What Does Morning Star Mean?
A morning star is a visual pattern consisting of three candlesticks that is interpreted as a bullish sign by technical analysts.
A morning star forms following a downward trend and it indicates the start of an upward climb.
It is a sign of a reversal in the previous price trend. Traders watch for the formation of a morning star and then seek confirmation that a reversal is indeed occurring using additional indicators.
The opposite pattern to a morning star is the evening star, which signals a reversal of an uptrend into a downtrend.
Can we expect a bullish move .. please put your thoughts into comment.
A morning star is a visual pattern consisting of three candlesticks that is interpreted as a bullish sign by technical analysts.
A morning star forms following a downward trend and it indicates the start of an upward climb.
It is a sign of a reversal in the previous price trend. Traders watch for the formation of a morning star and then seek confirmation that a reversal is indeed occurring using additional indicators.
The opposite pattern to a morning star is the evening star, which signals a reversal of an uptrend into a downtrend.
Can we expect a bullish move .. please put your thoughts into comment.