MTI Analyst Articles

Forex Technical

Morning and Evening Stars

January 25, 2010

 

Jose Tormos - FXMVP

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Chart Analysis

 

• A bullish formation that consists of three candles that have demonstrated the following characteristics:
  
  1. The first bar is a bear candlestick located within a defined downtrend.
  2. The second bar is a small-bodied candle (indecision) that closes below the first bar.
  3. The last bar is a large bull candle that opens above the middle candle and closes near the center of the first bar's body.
  
  As shown by the chart, this pattern is used by traders as an early indication that the downtrend is about to reverse or if in the direction of the uptrend the market will continue bullish.

 

Chart Analysis

 

• A bearish formation that consists of three candles that have demonstrated the following characteristics:
  
  1. The first bar is a bull candlestick located within a defined uptrend.
  2. The second bar is a small-bodied candle (indecision) that closes below the first bar.
  3. The last bar is a large bear candle that opens below the middle candle and closes near the center of the first bar's body.
  
  As shown by the chart, this pattern is used by traders as an early indication that the uptrend is about to reverse or if in the direction of the downtrend the market will continue bearish.

 

Analysis

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