Forex Rules

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Today I'm going to teach you one of my favorite candlestick indicator "Morning Star and evening Star". It sounds familiar to you? huh

Now before going to learn this indicator I would like to tell you something which is indeed necessary for every trader who wants to make enough money with forex trading.

1. Don't trade all the time and don't try to be over smart while you're trading cause your one single mistake would make you sad and may be you're going to hate this online trading market.
2. Always pay attention every time you enter in the market and you must check all the currency's news before entering in the market.
3. Always select the most hot currency pair & trade when it gives you strongest indication.
4. Don't trade blindly think what you do.
5. Never trade when you're disturb and feeling bad.

These are few steps which you must follow in order to secure your hard work and money.

Indicator's that works !





Morning Star:

The morning start is a bottom reversal signal and found at the bottom or at the Support level which indicates investor's sentiment rapidly.

Let's see the picture.

 

 

As you can see the above picture just be enough smart to recognize this picture.

Now let's just discuss it's symptoms.

First Candle

• It always appear at the Support or bottom level.
• The first candle must be bigger than rest of two candles and it must be red.
• The first candle don't have long shadows or tails or in some cases it has no shadows or wicked.

Second Candle

The second candle can be red or Green with no or small shadows.

Third Candle

• The third candle must be Green with small shadows.
• The third candle must be small than first candle and bigger than second.
• The third candle indicates about investor's sentiment.

As you know the morning star is also know known as " Reversal chart pattern" and it reverses or changes the direction of the market.

Let me grab some pictures here

 

 

 

 

 

 

 

 

 

 

 

You must be a buyer when it appears & before going to put your bit at this indicator you must know Fundamental Analysis.