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The
Dragonfly Doji |
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This is caused
when strong selling pressure forces the market lower straight
from the open but is fully reversed by the bulls. Depending on where this Candlestick appears it can mean a potential reversal for both bulls and bears. If after a down trend or long filled (bear) candle it can indicate a potential reversal with buyers flocking into the market. The low of the tail will indicate strong support and the greater the volume the more significant the formation. If a Dragonfly appears at the top of a strong up trend or after a large hollow (bull) candle it can signify the revival of some strong selling pressure with further selling still possible. |
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