A Dragonfly Doji forms when the open, close and high are at about the same level, with a long lower shadow reaching down. It is the mirror image of the Gravestone Doji. It appears at the lows of downtrends and at major support levels.
08
PATTERN ID
SignalBullish ▲
Reliability★★★★☆
Win Rate63%
Expected move+3–8%
TimeframeDaily / weekly
ConfirmationRequired
The short answer
What is a Dragonfly Doji candle?
A Dragonfly Doji (Dragonfly Doji) forms when the open, close and high are at about the same level, with a long lower shadow reaching down. It is the mirror image of the Gravestone Doji. It appears at the lows of downtrends and at major support levels.
How do you spot a Dragonfly Doji candle?
Open and close at or near the session high, a long lower shadow (2x the average candle range or more), and no upper shadow or a very small one. That is the definition.
Is the Dragonfly Doji candle bullish or bearish?
A bullish reversal pattern made of a single candle. Confirmation: required. Reference success rate: 63%. See it on live daily candles for any symbol in the members' technical terminal. Open the technical terminal →
Pattern illustration
Sellers pushed down: buyers took everything back by the end of the session
How to identify the pattern
Step-by-step checks
Open and close at or near the session high
Long lower shadow (2x the average candle range or more)
No upper shadow or a very small one. That is the definition
Appears after a downtrend or at clear support
Body color does not matter: the shadow structure is the signal
Trading psychology
The power struggle between buyers and sellers
Bears push price down aggressively (the long lower shadow shows their reach). By the end of the session, buyers take over completely and return price to the top of the session. The bears launched a dramatic attack and lost everything, a warning that bearish momentum is collapsing and buyers are taking control.
Outlook and confirmation
Entry conditions and expected price move
Needs confirmation in the next session
When confirmed near support: 63% success rate for a bullish follow-through of +3-8% over 5-10 days. It jumps above 70% when paired with RSI in oversold conditions and strong volume.
After each session closes, we classify the daily candle of SPY by its shape. When it takes this shape, its name appears there along with its body and shadow ratios.
Shows the daily-timeframe candles for any symbol on the platform's list. You identify the pattern by eye: the terminal does not name it.
How it is traded in practice
A Dragonfly Doji is a Doji with one long lower shadow: the session fell far, then closed back at its open near the high. A full selling attack was rejected all the way. At the bottom of a long decline, at support, it is the more extreme sibling of the hammer (no body at all) and is read the same way: confirmation by a close above its high, entry, a stop under the shadow's low, and a target at the nearest resistance.
Common mistake
Ignoring volume in a Dragonfly session: a long lower shadow on huge volume means a real fight that buyers won. On thin volume it may be just a brief liquidity gap that price bounced from with no real participation. Trading it mid-range or at a high, where nothing gives the long shadow meaning, is the other trap.
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