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Crypto · candlestick pattern

Dragonfly doji on Polkadot

On Polkadot the dragonfly doji showed up 40 times. The target came first 30% of the time, the stop 62%, and 8% went nowhere within 12 candles.

Counted on Polkadot (DOT/USDT): daily candles from January 2021, 4-hour candles from January 2021 and hourly candles from January 2021.

By timeframe

TimeframeFoundTarget firstStop firstWent nowhere
Daily333%33%33%
4-hour1030%70%0%
Hourly2730%63%7%

Polkadot against the rest

ChartsFoundTarget firstStop firstWent nowhere
Polkadot4030%62%8%
All Crypto charts1,03628%61%11%
Every market1,30430%60%10%

Year by year

YearFoundTarget firstStop first
2021450%50%
2022540%40%
2023650%50%
20241323%69%
20251020%70%

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 Polkadot

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

The dragonfly doji elsewhere

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

Questions

How often does the dragonfly doji work on Polkadot?

In 40 cases on Polkadot, the target (1.5 × ATR) came before the stop (1 × ATR) 30% of the time and the stop came first 62%; 8% went nowhere within 12 candles.

What is the dragonfly doji?

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