[Summary]
Mikawa Evening Star is a candlestick pattern that warns of a downward turn if it appears in the high price range of a rising market.
We look at the three trends of the positive line, the small bar, and the negative line to see if the buying momentum is weakening and selling is starting to become dominant.
The name is similar to the morning star, but the meaning is in the opposite direction.
What is Mikawa Evening Star?
Mikawa Evening Star is an expression that sees the Evening Star in the context of the more classical Sakata Goho.
The basic flow is as follows.
- A positive line appears in a rising market
- A small foot appears and the momentum stops.
- A dark line appears and selling becomes stronger.
If this shape appears in a high price range, there will be increased vigilance for a ceiling to form. Particularly in situations where the market stalls after a period of favorable conditions, people are also conscious of selling as much as they can.
Points to see
| Points to see | meaning |
|---|---|
| exit in the high price range | Beware of downward turn |
| The third is a big hidden line | strong selling pressure |
| Volume increases | Possibility of selling at a profit |
| break the most recent low price | Beware of worsening trends |
Summary
The Mikawa Evening Star is a pattern that indicates the possibility that buying momentum has slowed down and selling has begun to dominate.
If it comes out in the high price range, it will be a trigger for profit taking or position adjustment. I'll see if I can get it back on the next leg and decide.