Candle Body
The first candle body is a bullish green candle, preferably long. The second candle is either a short bullish green or bearish red, which indicates indecision in the market. The third candle is a strong bearish red, also preferably long. A STRONG Evening star pattern has a GAP between the first candle close/second candle closing and the second candle close/third candle opening.
Candle Wick / Shadow
All three candles have short to medium wicks on both sides. The second candle sometimes only has a wick above the candle body.
Candle Colors
The Morningstar has three candles. The first red candle always precedes the second and last green candle.
Modus Operandi
The second candle is always the most important one. It can be bearish or bullish, as the focus is on indecisiveness and uncertain outcome regarding which of the two sides will come out on top. Evening stars are powerful on the daily timeframe. The evening star occurs at the top of an uptrend and signals a potential price change.
Fun Fact
It is scarce to have candle gaps in trading. Thus, it is accepted that as long as the Candle Body description and Modus Operandi are met, the pattern will be classified as a valid Evening Star pattern.
