What is the morning star? Back to list

Member SinceJul 08, 2021

Posts 240

Wilburn

Nov 23, 2021 a 02:44
The morning star is a three-candlestick bullish pattern that signals a bullish turnaround. As it forms toward the end of a downtrend, it signals that the downtrend is about to revert to an uptrend.

There are three candles: a bearish candlestick, a second candlestick that may be bullish or bearish with a tiny body, and a third candlestick that is bullish. Keep in mind that the preceding trend should be down when trading with the Morning Star pattern.

In addition to the Relative Strength Index in the example below, traders can use additional technical indicators to confirm the reversal signals provided by this pattern.

Member SinceJul 12, 2021

Posts 239

meni78

Nov 25, 2021 a 16:48
The morning star is a pattern where there are three 'candles'. The name is given as it looks like the so called morning star. The downtrend, once it reaches its end will then show that it will revert to an uptrend.

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