#Weekly candle closed within the resistance zone, now looking for the next weekly #candle to break and close above it, which will be strongly #Bullish sign for the market 📈. In case of Bearish closing, this will indicate bears are taking over 📉

What is Morning Star Candlestick Pattern ?

The morning #star candlestick pattern is a bullish reversal pattern that consists of three candles. The pattern begins with a long red (or black) candle, followed by a small candlestick that opens and closes within the real body of the first candle. The small #candlestick can be bullish or bearish.

What does this Pattern Indicate ?

The pattern concludes with a long green (or white) #candle, indicating that the #buyers have taken control of the market. #Traders may interpret this pattern as a signal to go long or #buy, expecting an uptrend in the market.

Note : Traders should always use other technical indicators and fundamental analysis to confirm their trading decisions.