AUDJPY LONG WEEKLY
AUDJPY goes long after a morning star pattern.
The morning star pattern is considered as a bullish reversal pattern, it
often occurs at the bottom of a downtrend and it consists of three
candlesticks:
-The first candlestick is bearish which indicates that sellers are still in
charge of the market.
-The second candle is a small one which represents that sellers are in
control, but they don’t push the market much lower and this candle
can be bullish or bearish.
-The third candle is a bullish candlestick that gapped up on the open
and closed above the midpoint of the body of the first day, this
candlestick holds a significant trend reversal signal.
The morning star pattern is considered as a bullish reversal pattern, it
often occurs at the bottom of a downtrend and it consists of three
candlesticks:
-The first candlestick is bearish which indicates that sellers are still in
charge of the market.
-The second candle is a small one which represents that sellers are in
control, but they don’t push the market much lower and this candle
can be bullish or bearish.
-The third candle is a bullish candlestick that gapped up on the open
and closed above the midpoint of the body of the first day, this
candlestick holds a significant trend reversal signal.
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