July 2015
Intermediate to advanced
352 pages
9h 40m
English
book
A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
by Michael C. Thomsett
Content preview from A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
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Morning and Evening Star
Additional three-day patterns that are found frequently are the bullish morning star and the bearish evening star. When found at the end of the trend, these are compelling indicators that identify the point of reversal.
Key Point
The morning and evening stars are exceptionally strong reversals due to the double gaps occurring in between sessions.
The morning star has three consecutive sessions. First is a black candlestick, followed by a downside gap, a white session, and then an upside gap, and finally a white session. The combination of reversed direction and gaps in between each session makes the morning star an exceptional reversal signal. An example, containing two morning stars in close proximity, is shown in ...
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