🟢Powerful Candlestick Patterns:𝗣𝗮𝗿𝘁-17
🎖️17. Evening Star Doji
🔹An evening star doji candlestick pattern is a bearish reversal pattern. Evening star doji is made up of three candles. The first candle is a strong bullish candle which resumes the bullish trend. The second candle is a doji which represents the indecision of the market participants and also shows that the buying pressure has slowed down. The third candle is a strong bearish candle which marks the trend change from bullish to bearish.
🔹The evening star doji pattern forms when the market sentiment shifts from bullish to bearish. The initial strong bullish candle represents the buying pressure in the market, but the doji candle that follows indicates indecision and a slowdown in the buying pressure. The final strong bearish candle then confirms the reversal, as the sellers take control of the market.
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