Back to Doji Pattern
Dragonfly Doji
BullishAlso known as: firefly doji
Visual Example
Quick Summary
Shape
Long lower shadow, no upper shadow, open/close at session high.
Common Trap
Treating as automatic bullish reversal without confirming location.
Context Rule
Potentially meaningful at support after downtrend; noise in ranges.
When It Fails
- •Appearing in mid-range with no support below
- •During strong downtrend without exhaustion (catching falling knife)
- •Low volume rejection (no real buyers stepping in)
- •Against weekly/monthly bearish structure
When It Works
- •At established support after multi-day decline
- •Lower shadow tests and holds previous swing low
- •Volume spike on the lower shadow (buyers absorbed selling)
- •Next candle confirms with strong bullish close
Key Concepts
Understanding these methodology concepts will help you evaluate Dragonfly Doji setups more effectively:
Training Note: Pattern variants are educational classifications. Real-world price action rarely matches textbook definitions exactly. Always evaluate patterns in context of regime, location, and volume. This is not trading advice.