SignalSwiss

[USDCAD] MORNING STAR IN DEVELOPMENT ?

FX:USDCAD   U.S. Dollar/Canadian Dollar
1857 9 66
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Thank you for your support and trade with care!
Comment: This pattern is developed with at least 3 candles, so we just need to monitor today's close. Thank you for your support and trade with care!

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thought Morning star was at a trough. I call this a hanging man http://www.investopedia.com/terms/h/hangingman.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186
Either way it is a guide for trend reversal.
+1 Reply
I disagree, but I respect your idea. Thanks for share it!
+2 Reply
I call that three candles pattern "evening star" when bearish "morning star" when bullish, but I think names are not very important the most important thing is what the formation means.
Regards
+1 Reply
tst DoNotFolloWmE
Yeah "evening" at the top of up trend and "morning" at bottom of down trend but to be a star there should be a gap in price also but that is MY interpretation. I think candle stick reversals are just complements to a fib level were you think a reversal can happen. Engulfing candles are also good for trend continuation and reversal....etc etc.
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Walentine DoNotFolloWmE
yes, you're right, but the semantics we leave to other traders :) " ....the most important thing is what the formation mean". I agree!!!!
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just idea
+2 Reply
docelky Jahid
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Looks like a classic ABC correction... Send that to robert preacher

There is also a huge squeeze on the Bollinger bands... I think it will correct to the level of the 4th wave
+2 Reply
very nice analysis Docelky! Thanks for share it!
+1 Reply
Fantastic!
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