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Tagged: morning and evening STAR
Morning star appears after a dark night but gives a bright day which is positive.
Evening star appears after a bright day but gives a dark night that shows a negative price movement.
We can buy the stock on the next day if the price goes above the DOJI high
We can sell the stock on the next day if the prices goes below the DOJI low.
Morning star- Appears after dark night and opens to a bright day. After a price fall when the DOJI appears with high volumes price is expected to rise.
Evening star- Appears after a bright day and leads to a dark night. After a price rally, when the DOJI appears with high volume price is expected to fall.
Morning star: When DOJI is below the previous candlestick.
Long position; Buy when price is greater than DOJI’s highest price. Then sell at exit price.
Evening star: When DOJI is above the previous candlestick.
Short position; Sell when price is lower than DOJI’s lowest price. Then buy later.
Morning star is when a doji appears after a bearish candlestick indicating trend reversal
buy at highest point of doji and unwind later
evening star is when a doji appears after a bullish candlestick indicating trend reversal
sell at the lowest point of doji and cover later
After a few bearish days when a DOJI or star appears which indicates trend reversal it is called a morning star according to American’s and when prices crosses the high of morning star a long buy signal is given and the lowest point of the star is the stop loss and target is usually 1.5 to 2 times the difference of buy and stop loss. After a few days of rally and when a red star appears or DOJI then it is called evening star and trend reversal takes place and short sell should be done here.
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