Evening Star Candlestick Formation
Description
The Evening Star candlestick formation is composed of 3 candlesticks. The first candlestick is a long green candlestick in an uptrend. The second candlestick is a short body candle, either red or green, which gaps both on the open and close above the close of the previous bar, thereby forming an island. The 3rd candlestick is a large red candlestick which opens below the 2nd candlestick, and closes somewhere near the middle of the first candlestick. This is a bearish pattern and indicates a possible reversal in trend.