Star Candlestick Patterns
Stars are one of the most trusted market reversal patterns. Candlesticks stars are colored (dark or bearish) or clear (white or bullish) candlesticks which fulfill following requirements.
There are different types of star candlesticks, which are named according to the position at which they are formed and the real-body length.
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- They have small real bodies.
- They are preceded by long bodied bullish or bearish candlesticks.
- They gap away from previous candlesticks.
- Their real-body does not over lap the previous candlesticks’ real-body.
There are different types of star candlesticks, which are named according to the position at which they are formed and the real-body length.- Morning Star candlestick: It is bearish in nature indicating an upward trend reversal. Morning star is formed at the end of a downtrend having a long bearish (colored) candle preceding and a long bullish (colorless) candle following it.
- Evening Star candlestick: It is bullish in nature indicating a downward trend reversal. Evening star candlestick is formed at the end of an uptrend having a long bullish candle preceding and a long bearish candle following it.
- Doji Star candlestick: It is a star candlestick that lack real-body. They can be bullish (evening doji star) or bearish (morning doji star). They are considered as one of the most reliable and easily recognizable candlestick formations.
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posted by NobleTrading at
8:10 AM
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