11.The Morning Star

The Morning Star: 

The Morning Star formation is one consisted of three candlesticks. For the following examples we’re dealing with daily candlesticks (not monthly, weekly or hourly).

The Morning Star starts with a red Bearish candlestick, which means a sellers acceleration. Next in line has to be a Spinning Top, Doji or a Hammer/Pin Bar. Second candlestick represents the irresolution and the certain stop of the downwards acceleration. The third and last candlestick pattern in this particular formation is a green, Bullish candlestick that has to close at the top 40% of the first red, Bearish candlestick. After this Bullish confirmation a buying trade can be setup at the beginning of the following candlestick.

error: Content is protected !!