Morning Star Pattern

morning star pattern

For a better understanding of this article, you should already know what Japanese Candlesticks are and all their features; for this reason, we suggest you to read this introductory article to Japanese Candlestick: Japanese Candlestick Chart ( So that you can understand also the Ratings given to the Candlestick Patterns for the “quality” of the signal and for their frequency to “appear” on Charts).

Let’s analyse now the following Candlestick Pattern: “Morning Star Pattern”.

Morning Star Pattern

 

morning star pattern

– Normally it should be a signal of reversal of the current Trend.

– It occurs during a Downtrend; confirmation is not required by the candles that follow the Pattern, because is one of the most reliable Candlestick Patterns (Although it should be better to search a confirmation).

– The First Candle is long and black.

– The Second Candle can be white or black (The color doesn’t matter), it has a short Real Body that is below the First Candle (In case is a Doji, the is called “Morning Doji Star”); it gaps down from the First Candle (For a further confirmation of the Pattern).

– The Third Candle is long and white; it has the Close above the midpoint of the Real Body of the First Candle. It gaps up from the Previous Candle (For a further confirmation of the Pattern).

The Trading Online Guide, strategy to earn with Binary option and Forex Trading online.

Leave a Reply