Dragonfly Doji Pattern: Shape, Meaning, and Examples on Crypto Charts
Schematic of the Dragonfly Doji shape. What matters is the proportion of body and wicks, not the price figures.
Dragonfly Doji pattern shape
- A line-thin body at the very top of the candle's range.
- A long lower wick, at least 60 percent of the candle's full range.
- Sumbu atas hampir tidak ada, di bawah 15 persen rentang, siluetnya menyerupai huruf T.
General meaning
This shape records a period that dropped far down and then closed back near its open. The entire decline within the period was erased before the candle finished. What it shows is rejection of lower prices, not certainty that the decline is over.
Where it usually appears
Often appears at the bottom of a sharp decline, at price areas that have held declines several times before, and after liquidation cascades that briefly push price far lower.
Worth noting. On low timeframes a long lower wick is sometimes just the result of one large order in a thin book, not a shift in the behavior of many market participants.
See live detection on the chart
The CryptoHalley chart engine marks Dragonfly Doji automatically with id dragonfly_doji, no extra indicator needed. Open the chart and browse the labeled candles.
FAQ
- What's the difference between a dragonfly doji and a hammer?
- Both have long lower wicks; the difference is the body. A hammer still has a visible body, while a dragonfly doji's body is line-thin, so its open and close are practically the same. CryptoHalley's engine checks for doji first, so a candle that meets both definitions is marked as a dragonfly doji.
- Why is it called a dragonfly?
- Because its silhouette resembles a dragonfly, with the body on top and a long tail hanging down. The name comes from the Japanese candlestick naming tradition, which leans heavily on shape metaphors.
- How often does a dragonfly doji appear?
- Far less often than a regular doji because the conditions are stricter: a thin body, a long lower wick and a near-zero upper wick all at once. On the daily chart of a major pair it usually shows up only a few times a year.