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Hello and welcome back to the complete scoop training course by well wealthy education.

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In this video we'll take a look at morning star and evening star candlesticks.

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So the Morningstar is a bullish pattern.

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The evening star is a bearish pattern and the best way to describe it is dribbling out the bodies like

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this.

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The idea is that in this case, let's this would be a morningstar because it's going to rise.

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You would get a gap lower for the second day because you need gaps and then you would need a gap for

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the third day to turn things around and show signs of life.

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If we can break above all three candlesticks, you put your stop loss on the other side and you let

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it rip.

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It's supposed to be a potentially a potential reversal.

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Something like this is what you would want to see on an evening star.

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So you would have negativity on this candlestick.

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It can be either color up here and obviously it would have to be bullish.

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Stop loss goes on the other side.

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You short the break of the two other candlesticks and you let it rip.

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Now, obviously.

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You're going to have to use artistic license because we don't have that in 24 hour markets.

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So this would be a morningstar after a pullback.

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You don't have the long candlestick ahead of it, but it does tell you the same thing.

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But at the same time, you can say, hey, look at this nice hammer here.

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So you're going to run into a lot of that with these patterns.

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But I want you to at least be aware of the fact that something like this exists.

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And you can think of it in those terms.

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So in this scenario, you would buy on a break above this, your stop loss would be down here and you

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can see you took off on the daily chart and the next resistance barrier is right up there.

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And there you go.

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So let's take a look at some five minute charts here, for example, in Home Depot, because you don't

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have the gap.

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This candlestick here can be thought of as an evening star.

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It also can be thought of as a shooting star.

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So it's kind of six one half a dozen or the other.

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Do you really care what you call it or do you want it to work?

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And that's kind of my thought process here.

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You would short it there, stop there.

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Huge area, obviously right here is your next resistance barrier or support barrier.

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Excuse me.

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And you hit it and then lo and behold, you do the same thing down here.

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And this is an actual.

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Morningstar, you can see.

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GABLER And then turned around to you buy on the entry there.

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You stop less there.

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Where do you think it's going?

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Well, you would assume it's going to at least there.

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So it's at least 1 to 1.

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Or you could try to take out the tops so you can see how that plays out.

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Over here in dollar yen again, you're going to have to use a little bit of an imagination.

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Big run, higher little star.

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Decent body.

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Decent body.

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You break down blood, your stop loss is here.

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You go down here to the previous resistance, which should now be support on this evening star.

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So again, like I said, you're you're looking for the spirit of the pattern, not necessarily the exact

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perfect 100% setup, because like I said, you're not going to get it in a liquid market that never

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closes.

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You could call this a morning star you by the break of that, you've got to be looking for that area

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there.

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It takes a handful of candlesticks to get there.

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With your stop loss, you're in pretty good shape.

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So let's go over to crypto.

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And.

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Check out Tron Tethers.

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Here is an evening star or shooting star.

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Take your pick.

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It's right at resistance.

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You sell the break of that.

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You're looking to come back to this previous support level, and that's exactly how it plays off.

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So, again.

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Don't worry about the perfection.

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Pay attention to what the market's trying to whisper to you.

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This is one of those subtle signs, because we don't have the massive gaps that you would have, like

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on a daily stock chart, as it were.

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So the next video, I'll run you through some trades and I'll show some indicators and technical bits

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and pieces that could make the trade a little bit more comfortable for you.