What is a Evening Star Candlestick Pattern?

What is a Evening Star Candlestick Pattern?

The morning star and the evening star are visual patterns consisting of three or more candlesticks that are interpreted as a bullish or bearish sign by technical traders. The morning star candlestick pattern is considered a sign of hope in a bleak market downtrend. It is a three candle pattern, one short bodied candle between a long red and a green candle. Normally, the ‘star’ will have no overlap with the longer bodies, as the market gaps both on open and close. It signals that the selling pressure of the first candle is subsiding, and a bull market is on the horizon. In contrast, the evening star pattern is the exact opposite, and indicates the reversal of an uptrend, and is particularly strong when the third candlestick erases the gains of the first candle.
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