Dragonfly Doji
Dragonfly Doji is a bullish reversal pattern. It has a very small real body. It has a very long lower shadow and a very short upper shadow.
For the Dragonfly Doji to be applicable the market must be in a downtrend. Below is an example of a Dragonfly Doji spotted on a daily chart. The market was in a clear downtrend before the pattern appeared. After the pattern, the market reversed its direction.
Gravestone Doji
Gravestone Doji is a bearish reversal pattern. It has a very small real body. It has a very short lower shadow and a very long upper shadow. For the Gravestone Doji to be applicable the market must be in an uptrend.
Below is an example of a gravestone Doji spotted on a daily chart. The market was in a clear uptrend before the pattern appeared. After the pattern, the market reversed its direction.
Long Legged Doji
Long-legged Doji can be a bearish or bullish reversal pattern. It has a very small real body. It has a very long lower shadow and a very long upper shadow usually of equal length. For the long-legged Doji to be applicable the market can be in an uptrend or a downtrend.
Below is an example of a Long-legged Doji spotted on a daily chart. The market was in a clear uptrend before the pattern appeared. After the pattern, the market reversed its direction.