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Tagged: morning and evening STAR
An evening star is a stock-price chart pattern used by technical analysts to detect when a trend is about to reverse. It is a bearish candlestick pattern consisting of three candles: a large white candlestick, a small-bodied candle, and a red candle. The Morning Star pattern is also a trend-reversal pattern, which is bullish and gives a buying signal.
Morning star:
When to buy: Long position can be created when the price goes above the highest price of the star(A) and stop-loss is the lowest price of the star(B). Risk = A~B and Target: A+(1.5 or 2 times of risk). Selling should happen at the target or stop loss( price goes below B).
Evening star:
When to Sell: Short position can be created when the price goes below the lowest of the star(A) and stop-loss is the highest price of the star(B). Risk = A~B and target: A+(1.5 or 2 times of risk). Selling should happen at the target or at stop loss(Price goes above B)
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