Gold - Bookish example for Morning/Evening Star

12 Nov

A typical example of Morning Star and Evening Star in the same chart. Its a good time to consolidate Gold

Evening Star
Evening star patterns are associated with the top of a price uptrend, signifying that the uptrend is nearing its end

• The first day consists of a large white candle signifying a continued rise in prices.
  
• The second day consists of a smaller candle that shows a more modest increase in price.
  
• The third day shows a large red candle that opens at a price below the previous day and then closes near the middle of the first day
  

Morning Star
The Morning Star pattern is a classic bullish reversal pattern in technical analysis. The pattern consists of three candlesticks: two large ones with different directions and a smaller candlestick between them.