Candle Pattern : The emoji of market world (Morning Star)

The Morning Star candle stick pattern

This is one of the widely seen candle stick pattern. Also it is very helpful to confirm the market behavior. This pattern is made of 3 candle stick where 1st candle stick is bearish as shown in fig. while the next candle stick has the small body it may be bullish or bearish, which shows the indecision in the market. As shown in fig. between candles you can find Gap down and gap up respectively.

Also use your fundamentals for more confirmation of the pattern like wise RSI, Support and Resistance, Fibonacci levels or the indicators and price action etc.

The main thing is selection of the chart as per your choice of trade. Money management and Risk to Reward Ratio is the key to apply.

It shows bullish reversal. Some of the examples are shown below, you can comment if you want to know more about it.

All the images are taken from Google images and they are used as the references only.

Trade Safe & Earn Well

For more blogs of mine

https://steemit.com/bitcoin/@hire7/bitcoin-to-moon-at-the-end-of-year-2018

https://steemit.com/cryptocurrency/@hire7/kandle-pattern-the-emoji-of-market-world-doji

https://steemit.com/crypto/@hire7/candle-pattern-the-emoji-of-market-world-marubozu