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ForeXecutor
| Dragonfly Doji |
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| Written by Kimball Hall | |
| Tuesday, 18 November 2008 | |
The dragonfly candlestick forms when opening and closing prices are at the top of the candle stick with a long shadow below. It is often thought that the longer the shadow, the more bearish or bullish the signal is. It is also important to remember that the top shadow must be very small to nonexistent.  This formation can be either bullish as shown aove, or bearish as show below.  Trading the dragonfly by itself is only considered medium to lightly accurate. For this reason a second indicator or further consideration should be used when trading it. Below is an example of a trade on the 4XCharts. 
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