Evening Star
The evening star is a three-candle bearish reversal pattern. It consists of a large bullish candle, a small-bodied candle (star) that gaps up, and a large bearish candle that closes into the first candle's body.
Formation
- 1.First candle is a large bullish (green) candle
- 2.Second candle is small-bodied and gaps up
- 3.Third candle is a large bearish (red) candle
- 4.Third candle closes at least halfway into the first candle's body
Psychology
The first candle shows strong buying. The second candle shows indecision as buying momentum slows at the top. The third candle shows sellers taking control and reversing the move, signaling the end of the uptrend.
Trading Tips
- ✓More reliable with gaps between candles
- ✓Third candle should close well into first candle's body
- ✓Doji as the star candle increases significance
- ✓Best after extended uptrends at resistance
Confirmation Signals
- →Gap up and then gap down around the star
- →High volume on the third candle
- →Third candle closes near its low
- →Following candles continue lower
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Common questions about this pattern
The evening star is a three-candle bearish reversal pattern: a large bullish candle, a small star candle that gaps up, and a large bearish candle that closes into the first candle's body. It signals trend reversal at tops.
The evening star is one of the most reliable bearish reversal patterns, especially with gaps and strong volume. It's most effective after extended uptrends at resistance levels.
An evening star doji has a doji as the middle (star) candle, showing even more indecision at the top. This variation is considered more reliable than a regular evening star.