Tri-Star Candlestick

Tri-Star Candlestick Example

Description

Like the Star candlestick, a Tri-Star Candle is formed when, during a trend, a doji candle gaps away from the trend, and after that doji candle the trend reverses, with that single doji forming an island on the charts, similar to the star candle formation. The difference is the the immediately preceding and the immediately following candles are also both doji candles, hence the "Tri" in tri-star.

This formation can happen at the top of the chart of ar the bottom of the chart. A star that forms at the top of the chart is called a Evening Doji Star, and is a bearish reversal pattern, while one that occurs at the bottom of the chart is called a Morning Doji Star, and is a bullish reversal pattern.