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What is dragonfly doji?

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Posted by : Nifm
30 January, 2015, 3:58 PM
What is dragonfly doji?
A dragonfly doji is a candlestick pattern that signals a trend reversal in the bottom. Dragonfly doji is formed when the stock/commodity's opening and closing prices are almost same and occur at the high of the day. The long lower shadow suggesting that the forces of supply and demand are nearing a balance and that the direction of the trend may be nearing a major turning point.    If you see the Copper daily chart you will easly find this candle that means market may reverse from the bottom.   According to Drangonfly doji if market next day open with gap up then it confirmed the reversal pattern trader should go long with sl og dragonfly doji's low.   

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