are there any other candlestick patterns that signal trend reversals 
several other candlestick patterns that traders use to signal potential trend reversals include the engulfing pattern the morning evening star the harami as well as the shooting star inverted hammer the bottom linea dragonfly doji is a type of candlestick pattern that can signal a potential price reversal either to the downside or upside depending on past price action it forms when the asset s high open and close prices are the same the long lower shadow suggests that there was aggressive selling during the period of the candle but since the price closed near the open it shows that buyers were able to absorb the selling and push the price back up the pattern is more significant if it occurs after a price decline signaling a potential price rise if it appears after a price advance it indicates more selling is entering the market and a price decline could follow the pattern needs to be confirmed by the candle following the dragonfly doji 