Japanese Candles 👇
Bearish Japanese Candlestick Patterns Number 7 👇
7- Evening Star Doji Pattern
This pattern resembles the regular evening star pattern, but in this pattern, we find that the middle second candle is a Doji candle. There is a rise in the first candle, then a candle forms with an opening equal to the closing at higher levels above the close of the bullish candle, followed by a bearish candle that closes below the close of the first bullish candle. It is preferable that the third candle is longer than the first candle and closes below the opening of the first bullish candle, but any long bearish candle that forms after the Doji and closes below the closing price of the first bullish candle can be considered. The following image illustrates the pattern:
When this pattern forms, it is good to monitor trading volumes and values, and the pattern will be better if it forms close to resistance levels, indicating that the bullish trend has ended and a new bearish trend will begin.
