16 Replies to “Candlestick Charting – Vol 15 – Evening Star”

  1. Hi, would you also say that is a harami at 5:46 and a confirmation bearish candle ?? Or does the harami, small bodied candle have to be inside the body of the green bullish candle ?? Thanks

  2. Im new to trading and finding your videos absolutely beneficial
    Its very professionally explained
    God bless you my brother

  3. Excellent. Pin bars are powerful. They tell a lot about sentiment from major support and resistance.

  4. I have learnt a lot from your videos, pls explain how to trade in daily support & resistance level

  5. souldrop1000, the technical definition is that the second real body is contained within the first real body. However you should not get too caught up with the strict definitions. What is MUCH more important is the sentiment change that is indicated by the pattern, and the context within which it is occurring. For a written copy of "definitions" and example charts, see the poster and quick reference guide downloadable at my website ebook page (no cost).

  6. Hello sir thank you. i had another query about the harami pattern. The second candle("Including the high and low of the second candle") of the harami pattern does it have to be inside the "real body" of the first candle or being inside of the high and low of the first candle will do ?

  7. Hi souldrop1000,
    The definition involves a gap up to the second candle. In continuous markets such as forex though this is not usually possible. As such, the first two candles of an evening star may form a harami pattern. Essentially then, trading off the evening star is more conservative as the market has provided additional confirmation of the change of sentiment.

  8. 5:18 doesn't the second and first candle of a evening star forms a harami pattern in market likes forex? whats the difference

  9. @5.14 the two candles at initial support level..the one red and the green..wont it signal a bullish harami??? waiting for your reply

  10. Firstly nice videos..Hope that this patterns work in Indian Markets as well..

    Well @6.38 the two candles look like a bearish engulfment won't it be a signal for bearish reversal pattern??

  11. Hi abdulaibee,
    Glad you enjoyed the candlestick video series.
    The open is simply the first price traded in that candle period (or first price bid for forex and CFDs). The close is the last price traded (or bid for forex/CFDs) for the candle period. The candle period is whatever you have set your charts to. eg. five min charts – each candle represents 5 mins, from open price to close price. On a daily chart, each candle represents one day of transactions, from first price to last.

  12. Although many people trade price / volume analysis very successfully, it's not something that's ever really fit well with my style. I therefore make very little reference to volume at all.
    In trading something like an Evening Star, and incorporating volume, you'd be looking for the same as with any reversal pattern. Either decreasing volume as price rallied to resistance, and incr vol on the break back down, or a blow-off (climactic) volume at the highs.

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