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Morning Star

Tron’s Morning StarFor those who don’t know what a Mornign/Evening Star is, enlighten yourselves... because it’s one of the most important reversal patterns that signals up-coming serious market swings. Here’s a tid bit to get your whistle wet: www.investopedia.com The Bears are done here I believe. With the Close of the Long Bearish Candle at a 624, followed by the Doji Candle’s Open — just under the LBC at 623 — with it’s close being at 622 (very important that it closed below the LBC’s Close), and now the Long Bullish Candle’s (soon to come to fruition) Open being EVEN with the Doji Candle’s Close, will signify the beginning of the Running of the Bulls! Trade well my friends.
Long
by KryptoTradr
6
BTC with a Strong Weekly Close, Possible Continuation to 33kBTC/USD weekly candle closes green, forming a morning star candlestick pattern. Looking at the past, a weekly bullish engulfing candle followed by a morning star lead to massive rise in price (see green arrows and yellow circles). We may see a similar pattern from here on out. Also, the volume profile of both morning stars gives further evidence to the similarity of the patterns (see orange arrows). Particularly, the 1st red candle of the pattern exhibits higher volume than average. If history would repeat itself, possible targets would be 33k which is the 200% (2.0) fib of the current bull run; this is similar to the previous bull run to 8k (see both fib retracements). A weekly close below 13800-14000 would obviously invalidate the pattern. With that said, I think it would take at least a couple of strong bearish weekly candles to invalidate this setup. Note: Chart is on log scale.
BITSTAMP:BTCUSDLong
by reimadara
BTCUSD - Potential Weekly Morning Star FormationOnce again, short & simple morning star, this time forming on WEEKLY. Previously as linked, a morning star formed on the daily and price has since risen more than $400: If formed with price holding while closing the week in green on more than half of the body of the first red candle, I expect prices to continue trending upwards in weeks to come (albeit with some retracements here and there). With regards to any upcoming FUD and the Korean Initial Coin Offering news today, I strongly stand by the fact that the market has since gotten more and more resistant towards these news. It is like the boy who cried wolf - and it seems that demand for BTC at reasonable prices is strong, pushing prices up quickly once critical levels are reached. As long as there is demand, prices will trend up over the longer term, passing hands from the doubtful to the believers.
BITSTAMP:BTCUSDLong
by Jeuvici
4
Stratis very interesting price action and levels to observeWe can see double top which stopped bullish movement with candle with long wick. I marked 2 GAP's which are respected by market in some way. The bottom one is clearly respected by market and gave nice push for the pair to move higher. I decide to put many arrows on the chart:) I would suspected that the pair will try to rebound from these 3 levels. In my opinion the most probable is that the pair will move higher after it will find support around bottom GAP. It is also quite possible that the pair will create double bottom. I will be looking for the 0.0045 or something close to that as TP.
S
by Krystiannwk
5
USDJPY ShortNotes: Price is in an overall downtrend initiated on 2.15.2017 with a Morning Star formation on the Daily at Weekly and Trend Line resistance level of 114.900. There are multiple confluences indicating that the USDJPY will fall further. I see no reason to buy this pair. Sell Confluences : - Key level rejection at 113.700 indicating bearish trend. (Medium) - H4, H1... Morning star formation at weekly key level of 113.700. (Strong) - DAILY... Double top at weekly resistance level 113.700. (Strong) - D, H4, H1... Price is trading below the 21 MA (Medium)
Short
by ForexLord