I love the morning and evening star setups, especially at the lower time frames(1H and 4H). The high and tight flag is my favorite pattern and helped me achieve a 1:18 RR for a profit of 95% a few months back. That high RR only happened because two high and tight flags formed during the trade and signaled me to not only keep the trade open but helped me to decide to pyramid into more positions. I closed the trade with twice the positions than when I entered, and my account had almost doubled in 4 days.
Morning Star
Definition of ‘Morning Star’
A bullish candlestick pattern that consists of three candles that have demonstrated the following characteristics:
1. The first bar is a large red candlestick located within a defined downtrend.
2. The second bar is a small-bodied candle (either red or white) that closes below the first red bar.
3. The last bar is a large white candle that opens above the middle candle and closes near the center of the first bar’s body.
As shown by the chart, this pattern is used by traders as an early indication that the downtrend is about to reverse.
A morning star pattern can be useful in determining trend changes, particularly when used in conjunction with other technical indicators. Many traders also use price oscillators such as the MACD and RSI to confirm the reversal.
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Evening Star
Definition of ‘Evening Star’
A bearish candlestick pattern consisting of three candles that have demonstrated the following characteristics:
1. The first bar is a large white candlestick located within an uptrend.
2. The middle bar is a small-bodied candle (red or white) that closes above the first white bar.
3. The last bar is a large red candle that opens below the middle candle and closes near the center of the first bar’s body.
As shown by the chart below, this pattern is used by traders as an early indication that the uptrend is about to reverse.
Evening star formations can be useful in determining trend changes, particularly when used in conjunction with other indicators. Many traders use price oscillators and trendlines to confirm this candlestick pattern. It was price action at its best!
Best Candlestick Signals That Work Every Time
Trade With Liquidity Forex Trading Strategy – Ultimate Liquidity Sweep Trading Strategy (Full In-Depth Guide)- Smart Money Concept
Usually, if these engulfing or morning/evening stars appear on these liquidity trading zones, signals forex that we get more accurate for our intraday scalping forex journey.
Combined with 9 Best Price Action Setups That Produce High Probability Forex Trading Signals
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Practice makes perfect, right? Don’t forget to be wise with lot management and test it on the cents account first in FBS Forex, EXNESS CENTS, or ROBOFOREX PRO CENTS Account.
