🏔️📒I really want to dedicate time to Japanese candlesticks. Japanese candlesticks allow for a quick assessment of the balance of power between buyers and sellers, revealing market sentiments and identifying continuation or reversal patterns of the trend. That is why they are widely used in technical analysis.
⭐Morning Star is a candlestick reversal pattern that signals a possible end to a downward trend and the beginning of a price increase.
The pattern consists of three candles:
The first is a bearish candle with a long body, showing strong selling pressure.
The second is a candle with a small body, often with a gap down, reflecting a weakening of the selling momentum and a phase of uncertainty.
The third is a bullish candle with a confident body that covers a significant part of the first candle, confirming the shift of initiative to buyers.
The Morning Star forms at the bottom of a movement and is considered a bullish signal. The presence of gaps strengthens the pattern, however, their absence does not diminish its significance.
