Monday 16 June 2014

Evening Star Candlestick

The evening star candlestick pattern may be a bearish candlestick reversal pattern.
It consists of three candles. It occurs in an uptrend signifying that the end of the uptrend is near and also the starting of the downtrend is in process
Identification of Bullish Engulfing Candlestick Pattern
The first candle is bullish and preferably occurs at the end of a significant push up in price.
The middle (second) candle is a small-bodied candle (bull or bear).  The second candle is a small indecision candle.
The third candle is a large candle that opens below the second and closes near the center of the first candle's body. The third candle is a decidedly bearish candle that closes below the low of the signal candle.

The third candle is also Confirmation Candle.
Evening Star Candlestick


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