๐๐ฎ๐ป๐ฑ๐น๐ฒ๐๐๐ถ๐ฐ๐ธ ๐ฃ๐ฎ๐๐๐ฒ๐ฟ๐ป
( ๐ง๐ฟ๐ฎ๐ฑ๐ถ๐ป๐ด ๐ฒ๐ฑ๐๐ฐ๐ฎ๐๐ถ๐ผ๐ป )
Evening Star Candlestick Pattern
๐๐ฒ๐ณ๐ถ๐ป๐ถ๐๐ถ๐ผ๐ป:
1. First Candle Bullish: The first candlestick is a large bullish green candle, reflecting strong buying pressure and continued upward momentum.
2. Second Candle Indecision: The second candlestick is small and can be bullish or bearish, often resembling a doji or spinning top. This candle shows indecision in the market, as the buying momentum slows.
3. Third Candle Bearish: The third candlestick is a large bearish red candle that opens below the small second candle and closes near or below the midpoint of the first bullish candle, confirming the reversal.
๐ฆ๐ถ๐ด๐ป๐ฎ๐น
:The Evening Star pattern signals that the upward trend is losing steam and that sellers are starting to gain control. Once the third candle forms, traders interpret it as a bearish reversal and may consider entering short positions.
๐ง๐ฟ๐ฒ๐ป๐ฑ
โข Uptrend โ Evening Star forms โ Potential reversal into a downtrend.
โข The pattern is more reliable when confirmed by additional bearish candles following the pattern or other technical indicators, such as resistance levels or overbought conditions.
๐๐ฒ๐ ๐๐ฒ๐ฎ๐๐๐ฟ๐ฒ๐
โข The second candle indecision often opens with a gap up but fails to maintain the bullish momentum, indicating weakness.
โข The third candle needs to be a strong bearish candle to confirm the pattern.
๐๐ ๐ฎ๐บ๐ฝ๐น๐ฒ
โข Uptrend โ First large bullish candle โ Small indecision candle โ Large bearish candle โ Trend reversal downtrend likely to follow.
