The one day Bullish Reversal pattern Dragonfly Doji is a rare candlestick pattern that occurs at the bottom of a downtrend. It is very similar to the Bullish Hammer Pattern, except on a Dragonfly Doji the opening and closing prices are nearly identical with no body.
The Bullish Dragonfly Doji is considered to be more reliable than a Bullish Hammer and tends to be a stronger bullish signal. The pattern is considered most reliable after an established bearish trend.
Last Updated: 19 Jun 2019, 03:25 a.m. (IST)