The Morning Star Candlestick pattern, or signal, demonstrates a Severe change in the emotions of the traders and strongly suggests a reversal in the downward trend.
This 3-candlestick pattern signals a trend reversal. It is composed of:
1. A downward bearish candle on the left
2. A candle of indecision in the middle (Doji, Spinning Top, Hammer, etc.)
3. A bullish candle that rises and closes at lest half-way up the first candle. The higher it trades up the trading range of the first candle the higher the probability of a strong trend reversal.
This FREE Video will discuss how candlestick signals can help you pinpoint reversals.
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