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Morning and Evening Star: pattern for calm profit

Morning and Evening Star: pattern for calm profit

Candlestick market analysis requires experience. In the classical form, patterns rarely appear on the chart; this is a problem for beginners s traders. But, there is a Quotex trading strategy on simple patterns such as "Morning and Evening Star".


Candlestick trading strategy characteristics:



Type: Trend reversal or rollback

Timeframe: All 

Trading asset: Any currency pairs. The main requirement is a fixed (2-3 points) spread and no hidden fees.

Trading time: All Forex trading sessions.

Recommended expiration: 10-20 min.


Trading setting


We trade on the timeframe five minutes (M5), expiration 15 minutes. The option amount is 3-5% of the current deposit. We do not change the amount during the trading session!




To confirm the candlestick pattern, we install the Awesome Oscillator (AO) indicator on the chart. Breakdown of the zero level will be the second signal of the beginning of a trend reversal. The growth of the histogram indicates the continuation of the trend:

  • Green above the zero level – continuation of the uptrend;
  • Red below the zero level – continuation of the downtrend.

It is recommended not to change AO settings on all timeframes and assets.




Trading signals



Beginners on all binary options trading strategies should start basic patterns. They are rarely found on the chart, but they are the most reliable. As you gain experience, you can switch to non-standard models. The main condition: the central candle must be reversal (Doji, Pin Bar, Harami Cross).




Flat periods in the Evening and Morning star patterns should be at least 5 candles; the size with shadows should not exceed 30% of the first candle. Additionally, you can watch the dynamics of changes in market volumes - if they grow before the third candle, we open an option. 

Flat patterns are more common in the Asian session. It is less volatile, but quickly reacts to any actions of market makers, publication of important news and statistics.

Strategy Morning Star gives good signals during the European session, especially on cross pairs with EUR and GBP. In the American session, we are looking at the Canadian (CAD), Australian (AUD) and New Zealand Dollar (NZD). They are volatile during this period, so the patterns will work.

Profit on the option from 60 percent. Then the losing trade closes faster.


Signal example

The first example is the Morning Star candlestick pattern on the continuation a strong uptrend. The middle reversal candle is the Doji candle; the third one completely forms the pattern. The mouth of the green histogram confirms the continuation of the trend. You can open UP option.


The second example Quotex strategy shows the classic Evening Star. After a downtrend correction, the market moves into a sideway channel. The channel width allows you to trade rebounds from the borders. We have a rebound from the upper border with a Doji candle.



The AO histogram also shows a side channel, strong DOWN signal on vfxAlert. We open an option.


See more candlestick Quotex signals in the video:




Summarize.

The "Morning" and "Evening" Star candlestick patterns are a simple and profitable new strategy for beginners for all trading sessions and Forex market assets. The main thing is to observe strict money management, not to trade on news and low volatility, confirm the pattern with technical indicators and vfxAlert.

Start trading

Disclaimer:

Available vfxalert signals present for informational purposes only and in no way are not a guide to action. The owner of the site and the program does not accept any responsibility for the use of information provided on the website and in the program vfxAlert, as for any errors. Information on this site does not constitute a public offer.