dragonfly candlestick

 DRAGONFLY - CANDLESTICK

Dragonfly CandleStick
Dragonfly Candle Stick
 
 
The dragonfly where the open and close are near the top of the candlestick this normally appears t market turning point and signals reversal after a down-trend.
 
 During a downtrend, there is a massive sell off after the candle starts. However, the candle closes at or near its high and at the same level as the open. This signifies a weakening of the previous bearish sentiment.

Signal Reliability : Medium/Moderate Trend Reversal.

 

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