British Pound / New Zealand DollarEducation
MORNING STAR - CANDLE FORMATION (BULLISH REVERSAL)
Consists of 3 candlesticks. The first candle is a down candle.
The second candle creates a newlow and is a relatively small
Candle. This can be a doji or hammer type of pattern. The third
candle is a strong bullish candle that reverses the first 2 candles.
NOTE:
TRIGGER:
The second candle creates a newlow and is a relatively small
Candle. This can be a doji or hammer type of pattern. The third
candle is a strong bullish candle that reverses the first 2 candles.
NOTE:
- This is only a valid formation when at a key level of support.
TRIGGER:
- Buy on the open of the next candle after the morning star is formed.
- After the morning star is formed wait for the open of the next candle to Buy a retrace of the morning star.
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