Morning Star
A bullish reversal pattern consisting of three candlesticks - a long black candle extending the current DownTrend, a short middle candle that gapped down on the open (the bodies of the two candles don’t touch each other), and a long-bodied white candle that gapped up on the open and closed above the midpoint of the body of the first day.
This is a bullish pattern signifying a potential bottom. The “star” indicates a possible reversal and the bullish (empty) line confirms this. The star can be empty or filled-in.
Recognition Criteria:
· DownTrend
· First line is Long Black
· Second line is Spinning Top
· Third line is White
· Second line's closing and opening prices are lower than the first line's closing price
· Third line's opening price is lower than the first line's half body
· Third line's closing price is equal or higher than the first line's half body
Function: MorningStar()
Trend: Bullish
Type: Reversal