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Tagged: morning and evening STAR
BOTH MoRNING STAR AND EVENING STAR ARE THREE DAY reversal patterns
Morning star is a bullish reversal pattern
HERE the first candle is a bear one in the stream of the down trend
The middle candle is a DOJI appears just below the down trend with volume
THE third candle must be bullish confirming the bull trend
BUY when the price moves with volume on the third day above the top of the DOJI(Stop loss at the bottom of the DOJI)
Evening star is a bearish reversal pattern hence appears at the TOP of the trend
HERE the first candle is BULL in the stream of the bull trend
THE MIDDLE CANDLE is DOJI appears slightly above the bull trend with volume
THE third candle must be bearish confirming the bearish trend
SELL when the price on the third day goes down the bottom of the DOJI(STOP LOSS is at the top of the DOJI)
After a bullish candle if DOJI appears, it’s called evening star. Its time to take SELL short position.
After a bearish candle if DOJI appears, it’s called morning star. Its time to take BUY long position.
It is the modified form of Doji formulated by Americans.
Morning star,Evening star both will be seen after certain rally.
Morning star refers to Bullish Doji(green body) after bearish trend with the volume increased than previous day and Evening star refers to Bearish trend (red body)after bullish trend with significant volume.
Buy when morning star and sell when then point reaches below stop loss.
When doji is appearing in the bullish trend, that is called Evening star. we need to sell now
When doji is appearing in the bearish trend, that is called Morning star. we can buy now
When A DOJI appears after a bullish trend, we need to sell.
At a bearish, we need to start buying.
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