Morning Star candlestick pattern ~ best forex trading times gmt
Morning Star candlestick pattern there are many variations of the Morning Star pattern.
Criteria
1. Usually consists of three candles at the bottom of a downtrend.
2. First candle is a red candle.
3. Second candle is an indecision candle. There can be 1, 2, 3, or even 4 indecision candles.
4. Third candle is a blue candle and should close at least half way up the first red candle.
5. The longer the red and blue candles the more forceful the reversal.
6. The more indecision of the indecision candle the better probability that a reversal will occur.
7. The further the third blue candle closes into the first red candle the stronger the reversal. |
Morning Star candlestick pattern |
Here are some variations of the morning star pattern:
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Morning Star candlestick pattern |
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