P
PipsGrowth

Key Takeaways

Success Rate:62%
Difficulty:Intermediate
Strength:
R:R Ratio:1:2
🪰

Dragonfly Doji

bullish reversalHigh Reliability1 Candle

A doji with a long lower shadow and no upper shadow, opening and closing at the high of the session. Strong bullish reversal at bottoms.

Market Psychology

Sellers pushed prices down significantly but buyers fought back completely, closing at the open price - showing buyer strength.

Candle Structure

Trading Setup Example

Entry, stop loss, and take profit levels.

How to Trade the Dragonfly Doji PatternTake Profit📥 EntryStop LossPatternConfirmEnterBUYPatternConfirmEnterSL/TP

Always wait for pattern confirmation before entering a trade.

Where This Pattern Appears

Trend context and market position.

DowntrendDragonfly DojiReversal ↑

Appears at the bottom of a downtrend, signals bullish reversal.

How to Identify

1

Open, high, and close are at or very near the same price

2

Long lower shadow (at least 2-3x the body)

3

No or minimal upper shadow

4

Appears after a downtrend

Confirmation Signals

RSI oversold (<30)
At key support level
Volume increase
Bullish next candle

Trading Strategy

📥 Entry

Enter long on next candle confirming bullish momentum

🛑 Stop Loss

Place stop below the dragonfly low

🎯 Take Profit

Target resistance or use trailing stop

⚖️ Risk/Reward

1:2

Common Mistakes to Avoid

Trading without prior downtrend
Not waiting for confirmation
Ignoring volume
Setting stop too tight

Pro Tips

💡More powerful at support levels
💡Essentially a hammer with open and close at the same level
💡Requires confirmation for higher probability trades

Best Timeframes

1H4HDaily

Pattern Variations

At support level (stronger)
With gap open
آخر تحديث: ٢٩ ديسمبر ٢٠٢٤

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Frequently Asked Questions