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* Bullish Japanese Candlestick Patterns * No. 7 👇
7- Morning Star Pattern 👇
One of the most important candles in technical analysis, and comes after a period of falling prices. This candle is considered a combination of three internal candles. The first candle is a bearish candle and the longer it is the better. Then comes a small bullish candle, but this candle opens and closes below the close of the first bearish candle. Finally, another bullish candle is formed, but it is long and closes at levels close to the opening of the first bearish candle. It is worth noting that the closing of the third candle above the opening of the first candle
makes this pattern stronger. The following image shows the candle:
It is worth noting that this candle comes at the end of a downward trend, or the end of a downward correction, and cannot be relied upon if it occurs within a generally continuing upward trend. This candle is considered one of the strong candles, especially if it comes at a support level that has been broken, but the price returned in the last third candle to trade above the support
