What is the difference between Dragonfly and gravestone doji?

As you might have guessed from their opposing structures, Dragonfly and Gravestone Doji also have opposing implications. The Dragonfly is bullish, while the Gravestone is bearish. A Dragonfly Doji conveys that the price opened at the high of the time period.

What is Dragonfly doji?

The Dragonfly Doji is typically interpreted as a bullish reversal candlestick chart pattern that mainly occurs at the bottom of downtrends. The Dragonfly Doji is a Candlestick pattern that can help traders see where support and demand are located. It can be used with other indicators to identify a possible uptrend.

What is the opposite of a gravestone doji?

The opposite of a gravestone doji is a dragonfly doji. Where the gravestone doji is an inverted T with a long upper shadow, the dragonfly doji is a T with a longer lower shadow. In an uptrend, it means that the bearish pattern may be getting stronger while a dragonfly doji that appears in a downtrend indicates the opposite trend.

What are the different types of Doji patterns?

As mentioned above, the other two types of doji patterns are the gravestone doji and the long-legged doji. The gravestone doji is in the reversed shape of the dragonfly. The low, open, and close prices of a gravestone doji are at the same level.