Morning and Evening Star: pattern for calm profit
- VFX Blog
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
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.
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.