In a bull market, an evening star formation signifies sellers gaining the upper hand in the market. This normally happens when prices have hit a new high.
Look out for a sequence of 3 candles. The first one is green and has a long body, the second is smaller and shorter (either colour), and the third one is a long redcandle. The third candle confirms the trend reversal and there should be a gap between 2nd and 3rd.
The evening star formation is the exact opposite to the morning star forex pattern.
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