MORNING STAR PATTERN
Meaning:(Refer Chart)
The Morning Star Pattern is a bullish reversal pattern, usually occurring at the bottom of a downtrend. The pattern consists of three candlesticks:
Large Bearish Candle (Day 1)
Small Bullish or Bearish Candle (Day 2)
Large Bullish Candle (Day 3)
STEPS TO RECOGNISE MORNING STAR:
1.Downtrend
2.Bearish Candle
3.Gap Down
4.Small bullish/ bearish candle
5.Gap up
6.Bullish Candle
I have a doubt regarding Morning star candlestick pattern in HDIL
Plz Refer HDIL Chart.
In HDIL all condition are fulfill except third one (Gap Down),
So, does this pattern qualifies for morning star or not?
Please comment on this one...
Thanks & Regards
Meaning:(Refer Chart)
The Morning Star Pattern is a bullish reversal pattern, usually occurring at the bottom of a downtrend. The pattern consists of three candlesticks:
Large Bearish Candle (Day 1)
Small Bullish or Bearish Candle (Day 2)
Large Bullish Candle (Day 3)
STEPS TO RECOGNISE MORNING STAR:
1.Downtrend
2.Bearish Candle
3.Gap Down
4.Small bullish/ bearish candle
5.Gap up
6.Bullish Candle
I have a doubt regarding Morning star candlestick pattern in HDIL
Plz Refer HDIL Chart.
In HDIL all condition are fulfill except third one (Gap Down),
So, does this pattern qualifies for morning star or not?
Please comment on this one...
Thanks & Regards
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