Get started

Morning Star

Morning Star Candlestick Pattern EducationMorning star candlestick patterns can be strong reversal signs, but need to be traded safely as they are not always reliable, try to only use them at areas that are likely to be a “bottom” of a trend. They consist of the first candle being bearish and large bodied, the second candle being a doji, usually tiny with a two distinct wicks and the 3rd candle being bullish, large bodied and surpassing 50% of the value of the first candle. A shooting star is the oppiosite of a Morning Star. I will be posting excerpts from a new in depth crypto trading guide every week on my discord: www.invite.gg
COINBASE:BTCUSDEducation
by Wolf_Of_Amsterdam
30% EDGE profit potental!Nice opportunity to profit from EDGE. Price has rejected the lower trendline boundary creating a nice morning star signal. Now we are in a strong downtrend still so we do want to proceed with some caution. Therefore I recommend taking profits at the 38% fib retracement level as this could very well be a turning point. That's still a nice 17% profit! Second level will be the upper channel coundary around 3600 (30% profit). Entry: up to 2800 TP1: 3340 TP2: 3600
ELong
by Block-Head
EURUSD breakout?The price has failed to move above the previous high and has now moved back down, the price has managed to just about break the channel and move below the support level. A morning star has appeared just outside the channel, this may be a signal that the price is going to move back into the channel and this breakout will fade, if the price bounces at this point there is a chance that we may see further bearish moves. The RSI is currently in a bearish position and looks like a breakout may take place at this level.
by JohnnyPurtoy98
My thoughts on DBXCurrently I'm in July $33 and August $32 calls just waiting patiently through the whipsaw. But technically speaking it looks like DBX needs to clear the 33.23 area in order to really gain some momentum to the upside. The candle on July 11, 2018 could quite possibly be a morning star reversal if DBX can break out of its triangle. Line in the sand is obviously losing the low of July 11th's candle and/or the lower trend line. Let's see what she does! Would be nice if DBX was bought out in the next 1-2 months ;)
NASDAQ:DBXLong
by brianweber
1
BTC Bearish & Bullish UpdateLike i said in the morning - if we want to be bullish again we need a breakthrough right away from this area with another strong candle - we did it, almost! Pushed through with a sloppy "Morning Star" candlestick pattern and are heading to test "FLAG" bottom trendline! If today closes around $8400 then BTC forms in daily candle "Hammer" candlestick pattern (which is another bullish sign) and hopefully finally Consensus kicks in! But if we just retest flag bottom trend line and find from there bearish price action then we are bearish again! Good Luck!
BITFINEX:BTCUSD
by VaidoVeek
AUDJPY 15M long | Morning StarOpened overnight, already at 60 pip by morning Candle Pattern: Morning star Trend: up Trend Entry: with TP/SL Ratio Target: 2 to 1 Target TP PIPs: 40 SL PIPS: 20 Fib Entry: .50 Fib TP: 1+ Stochastic: over-sold MACD: bullish 200SMA: above BB: n/a Pivot Point: R1 Elliot Wave: on wave 5 Looking for final wave 5 high Notes: Morning star tail triggered my entry at the .50 fib level. .50 fib used because .618 and 764 were below 200 sma stochastic showing over-sold at time of entry macd is showing bullish strength What can go wrong: could make a new wave 4 low before starting wave 5.
Long
by ironcondor
USDJPY 15M long | Morning StarCandle Pattern: Morning star Trend: up Trend Entry: with TP/SL Ratio Target: 2 to 1 Target TP PIPs: 40 SL PIPS: 20 Fib Entry: 0 Fib TP: 1 Stochastic: over-sold MACD: bullish 200SMA: above BB: n/a Pivot Point: Pivot Elliot Wave: End of wave 5 Looking for final wave 5 high Notes: Morning star forming at the 200SMA and last swing low stochastic showing over-sold macd is showing bullish strength What can go wrong: ABC correction could start now MACD now turning bearish on strength and stochastic has more room to the downside. Might be a premature entry
Long
by ironcondor
AUDUSD 15M long | Morning StarCandle Pattern: Morning star Trend: down Trend Entry: against TP/SL Ratio Target: 1 to 1 Target TP PIPs: 20 SL PIPS: 20 Fib Entry: .764 Fib TP: .5 Stochastic: over-sold MACD: bullish 200SMA: below BB: n/a Pivot Point: S1 Elliot Wave: possibly ABC completion Might be the start of a new motive wave to the upside. Currently completing wave 2, retesting the swing low. Notes: Morning star formed below the .764 retracement. Entry placed at 764 for a move to the upside stochastic moving out of oversold zone macd is showing strength moving to the upside What can go wrong: breaking the current swing low could indicate a new wave C low or the start of wave 3 to the downside.
Long
by ironcondor
USDJPY 15M long | Morning StarORDER OPENED OVERNIGHT ENTRY Candle Pattern: Morning star Trend: up Trend Entry: with TP/SL Ratio Target: 2 to 1 Target TP PIPs: 40 SL PIPS: 20 Fib Entry: .618 Fib TP: .236 Stochastic: over-sold MACD: bearish 200SMA: above BB: n/a Pivot Point: pivot Elliot Wave: Wave 3 completed Currently on wave 4 to the downside. Notes: morning star formed at the green SMA. Entry placed at the low of the star which is equal to the fib .618, todays pivot and shy of the 200 sma stochastic was oversold at the time of the star. Looking for retest of the star before moving up. macd is brearish but showing some bullish upside What can go wrong: wave 4 could continue to make a new low
Long
by ironcondor
USDJPY 15M long | Morning StarORDER OPENED OVERNIGHT ENTRY Candle Pattern: Evening star Trend: up Trend Entry: with TP/SL Ratio Target: 2 to 1 Target TP PIPs: 40 SL PIPS: 20 Fib Entry: .236 Fib TP: 1+ Stochastic: over-sold MACD: trending up 200SMA: above BB: n/a Pivot Point: pivot Elliot Wave: Wave C correction possibly completed Start of wave 3 to the upside Notes: series of morning stars formed along the 200sma. Entry placed at tip of morning star where SL extends beyond 200sma stochastic showing bullish strength macd just went positive to bullish strength What can go wrong: wave C could make a new low
Long
by ironcondor
Potential Long opportunity for EurGbp?The EurGbp has been moving sideways since September 2017 and price is boucing between 0.8720 and 0.8967 key levels. A long tailed Doji or I would considered it as a Pin bar was formed on last Thursday, rejecting the price from the 0.8720 key support. The Pin was followed by another bullish candlestick, which complete the classic "Morning Star" pattern. My position : Entry : 0.8738 SL : 0.8643 TP : 0.8881 *** This information is NOT a recommendation to buy or sell. It is to be used for educational purposes ONLY. *** *** I will accept no responsibility for any losses you may incur. Do not invest more than you can afford to lose. ***
Long
by M-royce