* Quote off of investopedia.com *
-"The Evening Star pattern is considered a very strong indicator of future price declines. Its pattern forms over a period of three days, in which the first day consists of a large white candle signifying a continued rise in prices; the second day consists of a smaller candle that shows a more modest increase in price, while the third day shows a large red candle that opens at a price below the previous day and then closes near the middle of the first day"
* As can be seen we currently have two of the three criteria needed for the evening star candlestick pattern
1.) Large white (green) candlestick signifying increased bull potential
2.) Smaller candle showing a modest increase in price relative to the previous green candle (+ gap up )
*** 3.) Third candle has shown a gap down, this IMO and relative to my research constitutes a textbook Evening star Candlestick pattern
**** FOR CONFIRMATION ****
-We would need to see a bearish candle close at LEAST below the middle of the first days candle
-"The Evening Star pattern is considered a very strong indicator of future price declines. Its pattern forms over a period of three days, in which the first day consists of a large white candle signifying a continued rise in prices; the second day consists of a smaller candle that shows a more modest increase in price, while the third day shows a large red candle that opens at a price below the previous day and then closes near the middle of the first day"
* As can be seen we currently have two of the three criteria needed for the evening star candlestick pattern
1.) Large white (green) candlestick signifying increased bull potential
2.) Smaller candle showing a modest increase in price relative to the previous green candle (+ gap up )
*** 3.) Third candle has shown a gap down, this IMO and relative to my research constitutes a textbook Evening star Candlestick pattern
**** FOR CONFIRMATION ****
-We would need to see a bearish candle close at LEAST below the middle of the first days candle