Morning Star

Just like the early morning star that heralds a new dawn, in technical analysis, the early morning star is a candlestick pattern signalling that the worst is over.

Found at the bottom of a bear trend, the pattern is composed of a large down-candle followed by a small gap-down candle that can be bullish, bearish or neutral.

These two candles are followed by a third long up-candle that gaps-up from the second candle. The formation indicates that selling pressure is waning and bulls are aggressively buying the dip.

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