The Dragonfly Doji is a bullish reversal candlestick chart pattern that mainly occurs at the bottom of downtrends. Dragonfly Doji Candlestick Pattern
There are three types of Doji.
- Gravestone Doji
- Dragonfly Doji
- Long-Legged Doji
Today we are going to discuss dragonfly doji.
Dragonfly Doji Candlestick Pattern
After seeing Dragonfly Doji. You must understand that the trend is going to be reversal. This is a Bullish candlestick pattern. In this, the open price and the close price are the same. It makes long lower shadow. Dragonfly Doji forms at the low of an downtrend.
The above picture shows a dragonfly doji forming at the low of the downtrend. Next we will know how you can do trading with the help of Dragonfly Doji.
Dragonfly Doji Trade Setup
You can clearly see the downtrend here. After downtrend you have seen a doji. This means from here you can get to see reversal in the market.
If you are an aggressive trader. In such a situation as soon as you get a breakout of Doji. You can create a buying position in your market. Along with this you must not forget to set stop loss. You can place your stop loss below the low of Doji.
If you are not an aggressive trader. At the same time, you believe in doing safe trading. In such a case, you should make a buying position when the candle formed before the Dragonfly Doji gets a breakout. In this case also you will place the stop loss below the low of the doji.
Dragonfly Doji Example 1
Here you have been told about Dragonfly Doji with the help of chart. With the help of the chart, you will get a lot of help in understanding it.
Dragonfly Doji Example 2
Here you have been told about Gravesney Doji and Dragonfly Doji with the help of Example. Apart from this, if you have any type of question in your mind, then you can ask by commenting below.
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3 thoughts on “Dragonfly Doji Candlestick Pattern”
great wise explanation in giving knowledge unbiasedly to patrons . great efforts
સર નાઇસ વેબસાઈટ, બહોત અચ્છે સે સમજ આ રહા હે આપકી વેબસાઈટ મે સારી ચીજો કો દેખકર.