In this video, you'll learn what is a dragon fly doji.
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Stock Trading Secrets:
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** TRADING BOOK **
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So a dragonfly doji has a similar meaning to a hammer. It's a bullish reversal pattern, although not quite as strong as a hammer, but also it still has a bullish meaning behind it. This is where the opening price over here. During the early part of the day, the sellers took control and pushed the price down lower near these lows of the day and then the sellers, you know they were back to a corner.
I Mean the sellers were in control and the buyers got pushed until they say Ah That's enough. Run, let me come in right coming coming out. For those of you we've watched Dragon Ball right? So yeah, this is where the buyers push, push the market up higher, closing near the highs of the day, right? So they close at the highs of the day, which is also the opening price of the day, right? So this tells you that they a reversal in Market sentiment. Sellers were initially in control over here, and then the buyers reverse up higher, close back towards the high towards the opening price of the day.
So this is what we mean by a dragonfly doji is a bullish signal.