The Dragonfly Candle or Dragonfly Doji is a candlestick pattern that is shaped like a dragonfly, with a very small body or nobody at all, as well as a long lower tail and a very short or non-existent upper tail.

This pattern forms when the opening price, highest price, and closing price are around the same level, but there is a surge in sales that causes the price to drop sharply before rising back up to near the opening price.

Dragonfly Doji is a bullish reversal pattern that signals a potential trend reversal from bearish to bullish. This pattern usually occurs at the support level or the bottom of a price movement, indicating that although there was a huge selling pressure that caused a temporary price drop, the buyer demand was strong enough to withstand further declines and push the price back to the opening area.

The appearance of the Dragonfly Doji pattern can be a signal for traders to go long, especially if it is confirmed by another bullish candlestick pattern. However, keep in mind that this pattern is not 100% accurate and should be analyzed in a broader context.