Demand and Supply - Basics - Candlestick reversal patterns - Morning / Evening Star
•This pattern is made by a doji pin bar sandwiched between two full-bodied candles.
•Demand / Supply psychology (Morning Star) –
- Market is in down trend making lower lows
- In its final push it catapult with force pulling in more sellers
- Next candle price opens lower and buyers emerge. They don’t allow the sellers any further ground making a doji
- Finally sellers loose hope by next candle and buyers make a sharp comeback
•This pattern has higher probability of winning when seen at previous support / resistances and with high volumes on first and second candle.