2.11. Evening Star candlestick pattern
This pattern is the opposite of the morning star. It is recognized when the price stagnates after an upward trend and it does so in form of a small bodied candle. In Forex, this candlestick is most of the time a doji or a spinning top, preceding a third candle which closes well below the body of the second candle and deeply into the first candle's body. The first candle has to be relatively large in comparison to the preceding candles. This candlestick pattern generally indicates that confidence in the current trend has eroded and that bears are taking control. The classic pattern is formed by three candles although there are some variations as we will see in the Practice Chapter.
2.12. Shooting Star pattern
This single candle pattern has the following recognition criteria: it occurs when the exchange rate has been rising; the first candle has to be relatively large; the second candle has a small real body at or near the bottom of its range; and the upper shadow is twice as long as the body. On a Forex chart, the color of the candle is not a validation criteria. The shooting star is a bearish reversal signal as its shape indicates that the price rallied during the session, but pulled back to the bottom to close near the opening price. This means that the initial demand pushed the price up, but sellers came in and imposed their supply.
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