EVENING STAR - CANDLE FORMATION (BEARISH REVERSAL)
Consists of 3 candlesticks. The first candle is an up candle.
The second candle creates a new high and is a relatively small
candle. This can be a doji or hammer type of pattern. The
third candle is a strong bearish candle that reverses the first
two candles.
NOTE:
TRIGGER:
The second candle creates a new high and is a relatively small
candle. This can be a doji or hammer type of pattern. The
third candle is a strong bearish candle that reverses the first
two candles.
NOTE:
- This is only a valid formation when at a key level of resistance.
TRIGGER:
- Sell on the open of the next candle after the close of the third candle forming the evening star.
- Sell a retracement of the third candle of the evening star.
