A Quick Overview of Morning Star pattern
The morning star candlestick pattern is viewed as a symbol of optimism in a market that is in a downward spiral. It's a three-stick type with a little "star" in the middle and two long red and green candles on either side. Because the market is open and closed at the same time, the "star" will seldom cross paths with longer bodies. This indicates that the selling pressure from the first day is diminishing, and a bull market is approaching. According to Bulkowski, this reversal predicts higher prices with an 78% accuracy rate.
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