Email of the day - on candlestick patterns
Comment of the Day

September 02 2021

Commentary by Eoin Treacy

Email of the day - on candlestick patterns

Dear Eoin Your monthly chart of gold shows a perfect and quite rare "Dragonfly Doji" candlestick pattern. With your considerable charting knowledge would you regard this as a bullish technical signal?

Eoin Treacy's view

Thank you for this question which may be of interest to the Collective. There are hundreds of candlestick patterns with colourful names. In order to assess how meaningful any one of them is we generally only have to ask one question. Did the price action have a big psychological impact?

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