I saw this Morning Star and thought this would be a useful post about what makes this Morning Star pattern high probability.
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The Morning Star is properly formed in that the 3rd candle closes higher the first 2 candles in the pattern.
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The Morning Star prints at an appropriate place which is the end of a retracement into an imbalance zone that is adjacent to a demand zone.
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The Morning Star placement has confluence with a Fibonacci retracement after the breakout of from the range.
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If you didn’t zoom out to see the big picture, you would have missed the fact that this morning star occurs shortly after a Change of Character and price has confirmed to be bullish after successive bullish Breaks of Structure.
Every Morning Star pattern that you see on a chart shouldn’t be used as an entry signal.
The Morning Star pattern requires context within the big picture, it requires to form in the appropriate place, and it needs to have the appropriate price action to be a high quality and high probability Morning Star pattern.
Morning Star patterns that don’t meet your standards should be ignored. I have a very specific criteria of rating a Morning Star (or Evening Star) pattern and this post shows some of what I look for.