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Bearish Evening Doji Star
Bearish Evening Doji Star
This is a three-candlestick pattern signaling a major top reversal. It is composed of a white candlestick followed by a Doji, which characteristically gaps up to form a Doji Star.
Then, we have a third black candlestick whose closing is well into the first session’s white real body. This is a meaningful top pattern.
How to identify
1st day is a long white day.
2nd day is a doji which gaps above the 1st day’s close.
3rd day is a red day.
Psychology
The bearishness of the doji star created on the 1st two days is confirmed with the 3rd day.
If the penetration of the 3rd day is more than 50 percent, then this pattern has a much better chance to succeed for the trader.
