How to properly use Evening Star Candlestick Pattern to win big?

An Evening star candlestick is a three-star candlestick pattern that signals a reversal of the bullish trend.

It is the most popular candlestick pattern used by traders for spotting the reversal of a bullish trend.

This article explores the following:

  • What is Evening Star Candlestick Pattern?
  • How to trade with evening star candlestick pattern?
  • How to use the evening star candlestick pattern?
  • How to find an evening star candlestick pattern?

What is the Evening star Candlestick pattern?

An Evening star candlestick pattern is a three-star candlestick pattern that appears at the top of an uptrend.
This candlestick pattern appears at the top of the strong uptrend.
It is mainly used by traders to find the possible end of bullish domination in the market.

How to find an evening star Candlestick Pattern?

Here, to Illustrate the Evening star candlestick pattern I am going to use IQ Option. If you don’t have an IQ Option account. Click here.

You can also sign up via the form given below.

You can sign up here try….

Once you click the link above you will land on the IQ Option homepage.

Now, Enter your email, password & hit try now.

Once, you have signed up you will land on the IQ Option dashboard.

Now, click on the chart button and select Candlestick from the menu.

That’s it the basic setup is over!!

Now, talking about How to find an evening star Candlestick Pattern?

Well, Finding an evening star candlestick pattern is the most simple job for the traders.

Whether you are a beginner or an expert spotting and trading with an evening star candlestick patterns is damn very easy.

1.Up Trend: Firstly what you need to do is find a strong uptrend as an evening star pattern works best in an uptrend.

 

2. Bullish Candle: Secondly, Find a bullish candle with a long body and small wick.

 

This type of candle mostly appears because buyers or bulls are extremely active in the market.

3. Confusion candle: Thirdly, find a small candle with a small body and small wick indifferent to the colour.

This type of candle appears mostly appears due to confusion between the buyers and sellers.

4. Big bear: Lastly, find a big bearish body that indicates that finally, a bearish trend has begun.

This type of candle mostly appears because sellers or bears are extremely active in the market.

5. Use Support and Resistance to confirm your order: If you have read my previous articles I have always used Support and Resistance to confirm my order.

Support and Resistance no doubt is one of the best parameters to confirm your trade. and can give you some big bucks.

How to trade with Evening Star Candlestick pattern?

Trading with an evening star candlestick pattern is very easy.

Let’s check some examples.

 

Given above is a 30 min chart.

See, the box above, what we firstly, see is a good uptrend and later a big bullish body.

Secondly, an evening star candlestick pattern and a big red bearish body.

So, here we can take the Sell trade.

 

How reliable is Evening Star Candlestick Pattern?

Evening Star Candlestick Pattern is very reliable in my experience. However, If you want to gain better results use Support and Resistance to confirm your order.

In the previous article, I have already discussed support and resistance. If you haven’t read it yet click here.

Let’s check some examples.

Given above is a 30 min chart.

See, the box above, what we firstly, see is a good uptrend later and a big bullish body.

Secondly, an evening star candlestick pattern and a big red bearish body.

Plus the candle is near to the support and resistance so, here we take SELL trade.

So, here we can take the Sell trade.

Summing Up:

So, this is the end of this article. I hope you have found this article helpful.

So, Trading with the Evening star candlestick pattern is so easy.

You just need to remember the basics of the Evening Star candlestick pattern and use support and resistance to confirm your order.

 

 

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