The Top Five Most Consistent Candlestick Patterns: Morning star chart pattern
This is pattern signals that the trend has changed after making new lows. It is categorized under bullish reversal patterns. This pattern like the evening star consists of three candles.
The first candle is red followed by small bodied green candle then a long green candle follows. The small candle signals market indecisiveness or bear exhaustion. The morning star gives a strong indication of a major market low. To trade this pattern, a trader is advised to wait until the pattern closes. After consulting and interpreting other results of technical analysis, the trader can take then a long position.
This is pattern signals that the trend has changed after making new lows. It is categorized under bullish reversal patterns. This pattern like the evening star consists of three candles.
The first candle is red followed by small bodied green candle then a long green candle follows. The small candle signals market indecisiveness or bear exhaustion. The morning star gives a strong indication of a major market low. To trade this pattern, a trader is advised to wait until the pattern closes. After consulting and interpreting other results of technical analysis, the trader can take then a long position.
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