How to Identify Perfect Dragonfly Doji Candlestick Pattern | How to Trade Dragonfly Doji

The Dragonfly Doji candlestick pattern is a bullish reversal candlestick pattern, that looks like a Hammer, because it has a longer lower wick and a very short body at the top of the candlestick. The only difference is that there is a small body in the hammer, while there is no body or a very small short body in the Dragonfly doji.

The opening price, the low price and the closing price of dragonfly doji are all close to each other, and there is a long lower shadow, indicating a bullish reversal signal, which converts a down trend into an up trend, but all Dragonfly doji cannot convert a down trend into an upward trend . Only a perfect Dragonfly doji pattern can turn a down trend into an up trend. In this short video we will learn how to identify perfect Dragonfly doji candlestick pattern.

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