0 Jane Goodwin Posted February 16, 2019 Author Share Posted February 16, 2019 Quote Link to comment Share on other sites More sharing options...
0 Jane Goodwin Posted February 16, 2019 Author Share Posted February 16, 2019 Quote Link to comment Share on other sites More sharing options...
0 Emilio Estavez Posted July 1, 2020 Share Posted July 1, 2020 Hi Jane, The Three Stars in the South refers to a bullish reversal pattern that’s made of three consecutive black candlesticks which have successively lower closes and higher lows in a steadily declining downtrend. There are a few things to keep in mind when identifying the pattern: -The market should be in a downtrend -The first candlestick is a black candlestick that has no upper shadow and a long lower shadow which appears on the first day. -.On the second day, another black candlestick should close under the close from a day before and have an opening within the first day’s body. Also, it has a higher low. 4. On the last day, a small Marubozu appears with a higher low. Quote Link to comment Share on other sites More sharing options...
0 James Posted July 1, 2020 Share Posted July 1, 2020 Hello Jane, Formed near the edge of a downtrend, this bullish display presents three candlesticks. The first bar has an extended lower shadow in addition to its long black body. The second bar features a black body that starts below the former opening and ends at or below the previous closing. The last bar is black like the others only that it’s a marubozu. This means it doesn’t have wicks. Ordinarily, a marubozu candle implies a session started at the highest and ended at the lowest daily values. Note that the candles decrease in size as the trend continues to show a weakening bearish momentum. This is not only visible in the reducing daily ranges but also the successively higher lows. The fact that each candle swallows the subsequent one signals a bullish invasion. To ascertain the bullish control, however, wait for prices to exceed the last candlestick’s midpoint. This pattern is rare despite being accurate in predicting bullish swings. Quote Link to comment Share on other sites More sharing options...
Question
Jane Goodwin
Link to comment
Share on other sites
3 answers to this question
Recommended Posts
Join the conversation
You can post now and register later. To reply to this question, sign in or create a new account.