Image of Evening Star on a Chart
Morning Star Bullish Candlestick Patterns
Morning star candlestick pattern
Morning star candlestick pattern
Image of Morning Star on a Chart
Morning star candle is a 3 day bullish market reversal gold pattern.
The opening day features a long dark candle.
The second day is morning star which gaps away from the long black candlestick.
The third day shows a tall, light bar that closes the space.
The filling of the trading gap and when the white candle closes above the market gap is a bullish XAUUSD sign.
Traders and investors should consider entering a buy trade on gold subsequent to the market price closing above the gap formed by a Morning Star candlestick setup. This closing above the gap acts as the confirmation signal for a bullish trade generated by this Morning Star pattern.
Image of Evening Star on a Chart
Opposite of morning star
Image of Evening Star on a Chart
Image of Evening Star on a Chart
Evening star candle is a 3 day bearish market reversal gold pattern.
The first day features a long white candlestick.
Second day is the evening star which gaps away from the long white candlestick.
The third day shows a tall, dark bar that closes the space.
The filling of the preceding gap, followed by the black candlestick closing beneath that trading gap, constitutes a strong bearish signal for Gold.
Traders should open/execute a sell gold trade once the market closes below the market gap formation of the evening star candle pattern. This is the confirmation trading signal of a sell signal generated by this Evening star candlestick pattern setup.
Engulfing Pattern
Engulfing is a reversal candlestick that can be bearish or bullish depending upon if it appears at the end of a market down gold trend or at the end of a market upwards trend.
Bullish and Bearish Engulfing Patterns Explained
Bullish & Bearish Engulfing Candlestick Patterns
Colour of the first candle reflects gold trend of the day.
The second candle must fully cover the first one. It needs to show the color of the opposite trend.
For Bullish Engulfing the colour of the candle should be Blue
For Bearish Engulfing the colour of the candle should be Red
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