๐๐ฎ๐ป๐ฑ๐น๐ฒ๐๐๐ถ๐ฐ๐ธ ๐ฃ๐ฎ๐๐๐ฒ๐ฟ๐ป
( ๐๐ฟ๐ฎ๐ฑ๐ถ๐ป๐ด ๐ฒ๐ฑ๐๐ฐ๐ฎ๐๐ถ๐ผ๐ป )
Morning Star Candlestick Pattern
๐๐ฒ๐ณ๐ถ๐ป๐ถ๐๐ถ๐ผ๐ป
1. First Candle Bearish: The first candlestick is usually a large bearish red candle, showing that the selling pressure has been dominant in the market.
2. Second Candle Indecision: The second candlestick is typically smaller, either bullish green or bearish red, and often represents a period of indecision or consolidation.
3. Third Candle Bullish: The third candlestick is a large bullish green candle that closes near or above the midpoint of the first bearish candle, confirming a potential reversal.
๐ฆ๐ถ๐ด๐ป๐ฎ๐น
:The pattern signals that the downward trend may be losing strength and that buyers are stepping in, ready to push prices higher. Traders look for the confirmation of the bullish trend by checking if the third candle closes above a key level of support.
๐ง๐ฟ๐ฒ๐ป๐ฑ
:The Morning Star appears at the bottom of a downtrend and is often viewed as a strong indication of a bullish reversal. Once confirmed, it suggests the market may move into an upward trend. Traders use this pattern to potentially enter long positions.
