Trading the Evening Star Candlestick Pattern 🏯

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Evening Star Candlestick Pattern www.financial-s... PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE We continue reviewing reversal candlestick patterns. One of the pattern forms is the ‘star’ which comes in various guises. The principle behind the star is that it is gapped from the candles either side, which is what makes it look like a star in the heavens - at least for the bearish reversal of an uptrend. Here is the basic Evening Star.
The star candle, in the middle, can be either color, so I’ve shown it as green.
The first candle is strongly in trend with a long green day, and the second day opens with a gap - this is a necessary part of the pattern, and starts the star formation. But the second day proves to be indecisive, and the third day gaps down and continues down. You can see that the first gap isn’t a strong sign, but an exhaustion gap. Some people don’t require a gap down to call the pattern valid, and others insist that the third candle closes more than halfway down the first candle’s body, as shown.
Variations on the Evening Star include the Evening Doji Star, with a Doji in the centre, which is a stronger reversal pattern. The Bearish Abandoned Baby is a special case of this where the Doji is totally gapped away from the surrounding candles including their shadows - it’s rare to get this extreme. It’s also possible, though very rare, to get a Bearish Tri Star, where all three candles are Doji. If you see this, it’s a good idea to check the trading volumes to make sure that the pattern is not some mistake.
Bullish patterns are the reverse of the bearish ones, and include the Morning Star which is a bottom reversal at the end of a downtrend, corresponding to the Evening Star. Others equivalent to the bearish patterns are the Morning Doji Star, the Bullish Abandoned Baby, and the Bullish Tri Star. These last are rare, so you just need to concentrate on the main Star formations.

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[@Daytraderkev]

This patterns work extremely well on the higher time frames. I use them on 4hr, 8h, 12h, and they are a dream if you want to be profitable. Shorter time frames don't work as well on these setups.

[@jeffreygrullon2962]

your explanation on this was really good....thank you

[@Tracks777]

Awesome video

[@simon_ns]

Great explanation. Love your videos

[@abishekraju2988]

So how is this different from the Abandoned Baby pattern? There is a gap in both cases and baby candle in "fresh air"..

[@justmedee1959]

So here the gap up is a warning sign of a potential reversal?

[@kennethdsouza6476]

I had seen a different colour but the pattern was the same. First a green candle then a red candle and finally again a green candle. How do you trade this pattern. Is this pattern called something else?

[@Sofly878]

Good informative

[@consciousgyanfacts2065]

hallo sir you are bast tichar

[@daxpips7122]

Your explanation is very technical but it’s simple 👍 try and be doing giveaways for more subscribers 🔔

[@bilalpatel8380]

So how do you trade these candle sticks on say 15 minute or 1 minute charts?

[@ukspreadbetting]

Look in the playlists section on this channel -> Day Trading section for examples of such strategies.

[@kavyarm5017]

In kannada