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Crypto · candlestick pattern

Dragonfly doji on Arbitrum

On Arbitrum the dragonfly doji showed up 28 times. The target came first 39% of the time, the stop 54%, and 7% went nowhere within 12 candles.

Counted on Arbitrum (ARB/USDT): daily candles from March 2023, 4-hour candles from March 2023 and hourly candles from March 2023.

By timeframe

TimeframeFoundTarget firstStop firstWent nowhere
Daily10%100%0%
4-hour650%33%17%
Hourly2138%57%5%

Arbitrum against the rest

ChartsFoundTarget firstStop firstWent nowhere
Arbitrum2839%54%7%
All Crypto charts1,03628%61%11%
Every market1,30430%60%10%

Year by year

YearFoundTarget firstStop first
2023450%50%
20241040%50%
20251338%62%

The last 8 times

Counted by the Trading Class research engine on real past candles: entry at the signal candle's close, target 1.5 × ATR(14), stop 1 × ATR(14), 12 candles to decide, a candle that touches both counts as the stop. How we count. Past data, not a forecast and not advice.

What the dragonfly doji is

Sellers pushed price far down, buyers pushed it all the way back.

Throw a yo-yo down and it zooms all the way back up to your hand. A dragonfly doji is like that: price dropped far during the candle, then buyers pulled it all the way back up to where it opened. It looks like a letter T, or a dragonfly with its wings at the top.

The full dragonfly doji lesson, video and quiz ›

Other patterns on Arbitrum

Inside bar · Stochastic bullish cross · Stochastic bearish cross · Spinning top · Volume profile rejection · Volume profile bounce · Doji · MACD bullish cross · MACD bearish cross · EMA 9/21 bullish cross · all of them

The dragonfly doji elsewhere

Ethereum · Bitcoin · Solana · Litecoin · NEAR Protocol · Chainlink · Uniswap · BNB · Cardano · Polkadot

Questions

How often does the dragonfly doji work on Arbitrum?

In 28 cases on Arbitrum, the target (1.5 × ATR) came before the stop (1 × ATR) 39% of the time and the stop came first 54%; 7% went nowhere within 12 candles.

What is the dragonfly doji?

Sellers pushed price far down, buyers pushed it all the way back.