10 years ago I had to pay $150 for a copy of Steve Nison's...

10 years ago I had to pay $150 for a copy of Steve Nison's 'Japanese Candlestick Charting Techniques'. Today there are so many candlestick charting techniques websites available for free. 10 years ago I didn't see so many people quoting candlestick charting techniques. Now so many quote and misquote them without explaining the psychology of the quoted candle.

About a year ago I was holding and watching another stock that exhibited similar behaviour. It recovered from a horrible decline that lasted a few months. But on it's way up we saw a nice big white candle one day followed by a gravestone doji the next day and there were quite a few people calling for a reversal. Instead it opened with a gap up the next day and made another significant run up.

Caution is always prudent, but at this point on the chart citing the dragonfly doji as reason for a 'high probability' of a trend reversal is imo not justified.