daytrade diaries... wednesday, page-317

thanks for the feedback Lindfield.

Well this is my take on it.

When describing the morning and evening star patterns Nisson says that the candle on the third day must close well inside the body of the first day's candle. This didn't happen with OKN so it never became a morning star.

I see it as the third day candle needs to be a white/green candle needs to have a solid body.

Moreover the further the candle on the third day closes inside the first day's body the more effective the pattern.

Agreed, though doesnt mean it isnt a morning star. Its just more bullish if it closes further into the second candles body.

If you have a look at a chart of HSP you will see a classic morning star has just formed.

Very nice spot, and yes a better example of it. Remember I didnt call the pattern during today's trade, it was before the market opened.

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Anyway.. hope that helps and here is the chart for an update..I think there is still update at these levels.. if the DOW tanks who knows..

Thanks for your comments Lindfield, its good to see others views! By the way, im on my 5th Makers Mark, so my apologies.. he he