One of the reversal candlesticks is the morning star candlestick pattern. As we know, reversal candlesticks are trading patterns that suggest a possible change in future trends trend reversal.
Morning Star Forex Pattern
Morning Star Forex Pattern represents reversal candlestick pattern that predicts hypothetical future price reversals to upside. The morning star pattern consists of three candles: a large bearish candlestick, a small candle, and a bullish large candle.
The morning star pattern consists of 3 candles:
- Large bearish candle
- Small bullish or bearish or Doji candle
- Large bullish candle
The second candle can any small candle. Usually, it is a doji candle or a small bearish candle, but sometimes it can be a small bearish candle.
Morning star pattern can be seen in any part of the trading industry such as stocks trading, forex trading, indices, ETF, commodities, etc. It is part of reversal candlestick patterns analysis that analysts use in technical analysis.
The opposite candlestick pattern for the morning star is the evening star candlestick pattern. It is a bearish version of the bullish evening star pattern.
