Morning Star Candlestick Pattern for Beginners: Anatomy, Psychology, and the Midpoint Rule
What is the morning star? It is a three-candle bullish reversal pattern from The Candlestick Trading Bible: a bearish candle, a small candle, and a bullish candle that closes above the midpoint of the first. In this lesson Kennyfrank FX builds it one candle at a time, explains the psychology in three acts, shows where it works, covers its bearish twin the evening star, and gives you the grading list, the entry rules, and the mistakes to avoid.
In this video:
00:00 Intro
00:55 Why three candles?
01:50 Anatomy of the morning star
04:27 The psychology
06:19 Where it works
08:09 Why 'morning star'?
08:41 The evening star
11:15 Side by side
12:06 Star vs engulfing bar
13:25 Grading the signal
14:35 Entry, stop, and target
16:23 Time frames and confirmation
17:40 Five common mistakes
18:51 Practice: spot the star
20:44 Your homework
21:58 Recap
22:57 Next time
About this series
Kennyfrank FX posts a new candlestick lesson every 2 days, working through The Candlestick Trading Bible one candle at a time. Each video takes one topic from the book and explains it simply with animated charts. Episode 1: what a candlestick is. Episode 2: the engulfing bar. Episode 3: the doji. Next up: the hammer.
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Disclaimer
This channel is for education only and is not financial advice. Trading forex involves significant risk and you can lose money. Always do your own research and never trade with money you cannot afford to lose.
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