Morning Doji Star and Evening Doji Star
The Doji Star pattern appears on charts before a trend reversal. A candlestick that appears on the following day usually proves a change in the current trend.
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The Doji Star pattern appears on charts before a trend reversal. A candlestick that appears on the following day usually proves a change in the current trend.
A long black body appears in a downtrend and is followed by the Doji Star. Confirmation on the third day points to a full trend reversal like in the case of the Morning Star pattern. The Morning Doji Star points to a significant change in a particular trend, thus, it is more important than an ordinary Morning Star pattern.
The Evening Doji Star appears in an uptrend. It is followed by a long black body with the close price inside the white body of the first day. This confirms a reversal at the top of an uptrend. The Evening Star has a small body unlike the Evening Doji Star, which has Doji instead of Star that makes it much more important.
Psychology of the Morning Doji Star and the Evening Doji Star is similar to the one of the Morning Star and the Evening Star. The main difference is that a trend reversal indicated by the Doji Star is much more possible than in case of the ordinary Star patterns.
Flexibility of the pattern is determined by how far the third day’s body penetrates into the body of the first day. If the penetration is over 50%, the pattern is likely to be successful.
The Morning Doji Star reduces to the Hammer or Dragonfly Doji.
The Evening Doji Star reduces to the Falling Star and sometimes to the Gravestone Doji.
The closer the reduced pattern is to the Doji, the stronger it is as the third day closes well within the first-day body.
You should not ignore the fact that the pattern starts with the Doji Star.
