Hi Eternit,
Not quite, the middle "Star" has to gap down, she didn't gap down. But it is still a reversal.
The Morning Star is a reversal signal.
It is made by a long black body, usually one of the fear-induces days at the bottom of a long decline. The following day gaps down. However, the magnitude of the trading range remains small for the day. This is the star of the formations. The third day is a white candle day. And represents teh fact that the bulls have now stepped in and seized control. The optimal Morning Star signal would have a gap before and after the star day.
Also check my previous post on IRE post number 4079521,
21th of May 09 I have been looking at her for a while and was waiting for this oppt. And today it has finally came.
hi eternit over here, page-4
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