For those who don’t know what a Mornign/Evening Star is, enlighten yourselves... because it’s one of the most important reversal patterns that signals up-coming serious market swings. Here’s a tid bit to get your whistle wet:
https://www.investopedia.com/terms/m/morningstar.asp
The Bears are done here I believe. With the Close of the Long Bearish Candle at a 624, followed by the Doji Candle’s Open — just under the LBC at 623 — with it’s close being at 622 (very important that it closed below the LBC’s Close), and now the Long Bullish Candle’s (soon to come to fruition) Open being EVEN with the Doji Candle’s Close, will signify the beginning of the Running of the Bulls!
Trade well my friends.
https://www.investopedia.com/terms/m/morningstar.asp
The Bears are done here I believe. With the Close of the Long Bearish Candle at a 624, followed by the Doji Candle’s Open — just under the LBC at 623 — with it’s close being at 622 (very important that it closed below the LBC’s Close), and now the Long Bullish Candle’s (soon to come to fruition) Open being EVEN with the Doji Candle’s Close, will signify the beginning of the Running of the Bulls!
Trade well my friends.
@jacobomamba I don’t live my trading life by a “textbook”; candlestick patterns are so abstract at times that it takes a keen eye to be able to interpret their true formations.
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@KryptoTradr, um... Ah... You for one say morning star is one of the most definitive patterns for reversal then you say there is no way to know because the patterns are so abstract... Um contradicting just a little
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@CrytopherAu The Morning/Evening Star pattern pair is truly one of the most important patterns in a traders tool box. I believe, however, you need to re-read my comment; I stated, “...candlestick patterns are so abstract at times that it takes a keen eye to be able to interpret their true formations.”
My keen eye is saying, due to many of the technical reasonings I’ve stated in my original post, that I believe, in the chart’s current state, that this will become a Morning Star pattern - completing the reversal of the market.
What you need to understand is that “Textbook Patterns” are rare; they’re really just a guideline. There is no cookie cutter way to trade the markets due to how manipulated it is by Whales, the weak-hands of many traders, and being backed by a 100% guarantee that no one can trade with a 100% success rate.
If you’re not comfortable with my technical analysis, you’re more than welcome to enlighten me with your predictions.
My keen eye is saying, due to many of the technical reasonings I’ve stated in my original post, that I believe, in the chart’s current state, that this will become a Morning Star pattern - completing the reversal of the market.
What you need to understand is that “Textbook Patterns” are rare; they’re really just a guideline. There is no cookie cutter way to trade the markets due to how manipulated it is by Whales, the weak-hands of many traders, and being backed by a 100% guarantee that no one can trade with a 100% success rate.
If you’re not comfortable with my technical analysis, you’re more than welcome to enlighten me with your predictions.
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@CryptoBlake I believe today, sir; this wil be the forming of the Long Bullish Candle and the start of the reversal. Mind you, I’m a very highly speculative and “bottom/top caller” style trader. You may be more conservative, awaiting the reversal pattern completion, then patientily waiting for the retrace abck to previous structure support (pulls back to the” “valley”), furthermore waiting for entry confirmation.
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Today’s Open is EVEN with Yesterday’s Close! This is extremely important to the upcoming Moring Star completion! Hodl on tight, gentlemen!