Morning Star ~ Reversal Candlestick Signal

We have already gone through Evening star Candlestick Signal  candlestick; which is reversal candlestick and sometime it gives cautious approach prior to reversal of trend. 

Now today lets have look at Morning Star Candlestick Signal

This candlestick formation is Trend Reversal from Bearish to Bullish Trend and it is 3 candlesticks. 

Lets have look at different charts and try to understand evening star candlestick pattern first. 

Now lets understand this step by step.

Day 1 or Candlestick or Trend

Underlying trend must be downtrend. Last close should be in red wrt to previous close. 

Day 2 Morning Star Candlestick

Opening must be gap-down from previous close and close must also be below to previous close. It is okay if today closing level is bit below or above today's opening but should never be above previous close. High may or may not be same to previous day's low. 

Day 3 Reversal of Trend

Opening must be above previous close and closing must be above opening levels (3rd day) Sometimes current candlestick low is near to previous day's high but that is okay. 

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Please note these candlesticks may or may not act reversal as there are several factors which affects price movement of underlying asset.

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Please note this blog post is for education purpose only. While utmost care is taken while writing this post but any human error cant be ruled out and we apologize for same in advance.