British Pound / New Zealand DollarEducation
EVENING STAR - CANDLE FORMATION (BEARISH REVERSAL)
Consists of 3 candlesticks. The first candle is an up candle.
The second candle creates a new high and is a relatively small
candle. This can be a doji or hammer type of pattern. The
third candle is a strong bearish candle that reverses the first
two candles.
NOTE:
TRIGGER:
The second candle creates a new high and is a relatively small
candle. This can be a doji or hammer type of pattern. The
third candle is a strong bearish candle that reverses the first
two candles.
NOTE:
- This is only a valid formation when at a key level of resistance.
TRIGGER:
- Sell on the open of the next candle after the close of the third candle forming the evening star.
- Sell a retracement of the third candle of the evening star.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.