Dragonfly Doji

This formation is a doji that have a medium / long lower shadow but has no upper shadow (if available its upper shadow would be sized very short).
Psychologically, the pattern of dragonfly doji similar to hammer pattern and hanging man pattern, but an indication of bullish generated is stronger than the hammer or hanging man pattern. Remember that candlestick body on dragonfly doji formation is shorter than candlestick body in the formation of hammer / hanging man equally as basing the analysis on the confusion of the market conditions in which in candlestick analysis, the shorter of candlestick body then the more powerful it reflects confusion conditions that appear. It is therefore then an indication of bullish / bearish that generated by doji formations is stronger than the indication bullish / bearish that generated by hammer / hanging man formation.
The same with the formation of hammer / hanging man information / recommendations that generated by the dragonfly doji formation will also depend on the trend that preceded it.

The emergence of dragonfly doji formation preceded by uptrend is an indication of the chances of the bearish trend, while the emergence of dragonfly doji formation preceded by downtrend is an indication of the chance of bullish trend emergence.