Morning Star Candlestick Pattern - Evening Star Candlestick Pattern - Engulfing Candlesticks Patterns
Morning Star Bullish Candlestick - Evening Star Bearish Candlestick - Bullish and Bearish Engulfing Forex Candlesticks Patterns
Morning Star Candlestick
Morning Star Candlestick
Technical Analysis of Morning Star Pattern
Morning star is a three day bullish reversal pattern.
The first day is a long black candlestick.
The second day is a morning star that gaps away from the long black candlestick.
Third day is a long white candlestick that fills the gap.
The filling of the gap and closing of the white candlestick above the gap is a strong bullish Forex signal.
Traders should open a buy trade after market price closes above the gap formation of the morning star. This is the confirmation signal of a buy signal generated by this Morning Star Candlestick pattern.
Evening Star Candlestick
Opposite of the morning star
Evening Star Candlestick
Technical Analysis of Evening Star Candlestick Pattern
Evening star is a three day bearish reversal pattern.
The first day is a long white candlestick.
The second day is the evening star that gaps away from the long white candle.
Third day is a long black candlestick that fills the gap.
The filling of the gap and closing of the black candlestick below the gap is a strong bearish Forex signal.
Traders should open a sell trade once the market closes below the gap formation of the evening star. This is the confirmation signal of a sell signal generated by this Evening star candlestick pattern.
Engulfing Pattern
Engulfing is a reversal candlestick pattern that can be bearish or bullish depending upon whether it appears at the end of a market downtrend or at the end of a market uptrend.
Bullish and Bearish Engulfing Pattern
Technical Analysis of Bullish and Bearish Engulfing Patterns
The color of the first candlestick indicates the trend of the day.
The second candlestick should completely engulf the first candlestick and it should have the opposite color.
For Bullish Engulfing Candlestick the color of the candlestick should be Blue
For Bearish Engulfing Candlestick the color of the candlestick should be Red
