Morning Star

 

The Morning Star candlestick pattern is a bullish reversal pattern typically formed at the bottom of a downtrend.and convert into uptrend,  It consists of three candles:

1. First Candle: A long bearish (red) candle, signaling the continuation of the downtrend.

2. Second Candle: A short-bodied candle (either bearish or bullish), often a doji, that indicates indecision in the market. It may gap down from the first candle or appear to be inside the range of the previous candle.

3. Third Candle: A long bullish (green) candle, confirming a reversal and a potential trend change to the upside.

Key Characteristics:

• Location: Appears at the end of a downtrend, signaling a potential reversal.

• Confirmation: The third candle (bullish) should close above the midpoint of the first candle to confirm the reversal.

• Volume: Ideally, the third candle should have higher volume, indicating strong buying interest.