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Well, today in this article I am going to talk about one of my favourite and most profitable Candlestick pattern i.e the Evening Star Candlestick Pattern
What is Evening Star Candlestick Pattern?
Evening Star Candle Stick is the stock price pattern used by traders to find the possible bearish trends.
The Evening Star is three candlestick bearish pattern that appears at the top of an uptrend.
It represents that there is confusion between the buyers and sellers and later sellers dominating the market.
How to find Evening Star Candlestick Pattern?
Finding an Evening star candlestick pattern is damn very easy.
Here, to illustrate the evening star pattern I am going to use Olymp Trade.
In case you don’t have an Olymp Trade account yet, click here.
You can also sign up via the form given below.
You can sign up here try…
Once you click the above you will land on the Olymp Trade homepage.
Firstly, click on register.
Now, enter your email, password and click sign up.
Once you have signed up you will land on the Olymp Trade dashboard.
Now, click on the chart button and select Japanese candlestick from the menu.
Your dashboard will look like something given below.
That’s it!! the basic setup is over.
Now, talking about How to find an Evening star candlestick pattern? well, it’s damn very easy.
In Evening Star Candlestick Pattern,
The first candle must be a strong bullish candle.
The second must have a small body with a small wick indifferent to the colour.
The third candle must be a strong bearish candle.
How do you trade Evening star candlestick pattern?
As said earlier, the Evening star pattern is really very profitable.
However, I will highly suggest you use Support and Resistance to confirm your order.
Let’s check some examples.
As you can see above,
Firstly we see a strong uptrend and later a bullish candle.
Secondly, an evening star and lastly, a big bearish body.
So, here we can take a SELL trade.
However, we should always use support and resistance to confirm our order.
We can clearly see above, that the evening star touches the resistance level and from there it follows a strong bearish trend.
So, we can surely take here SELL trade. and make a good profit.
So, This is the end of this article I hope you have found this article helpful.
So, finding and trading with evening star is really easy.
What we just need to do is:
Firstly, Find a strong Bullish (green) candle.
Secondly, find a small body with a small wick candle.
Thirdly, find a strong bearish candle.
Once, you have found the evening star remember to confirm your trade with support and resistance that’s it!!
Best of Luck 🙂