Episode 165: How to Trade Morning Star Pattern – Best Candlestick Patterns – Trading Strategy


welcome to another episode after 10,000
trade show where we a mastering trading and creating excellence through the
deliberate practice and analysis of 10,000 traits in this episode we will
take a look at a Morningstar trade setup a Morningstar trade setup like the name
suggests is a bullish trade setup in this case we’re looking for the price to
come into an important support resistance level show us a Morningstar
trade setup and then once the trade setup is formed we’re looking for price
to go up from there so this is a bullish pattern we’re looking for a price to go
up so let’s go to the charts take a look at what this looks like great to enter
the trade where to place the stop-loss and as always where to exit the trade
with a profit here we’re looking at a Morningstar
trade setup this is pound dollar 30-minute chart a Morningstar trade
setup is formed with three candlesticks this is a bullish pattern and we are
looking for price to move higher once we see the Morningstar traits that are
formed in this Morningstar trade setup we have a bearish candle and in the
middle we will have a small candle which suggests that there is indecision in the
market a doji and then we have a big bullish engulfing candle that engulfs
the previous two candles so this shows us that price has tried to break lower
but it’s not able to so we have buyers that have stepped into the market that
is shown by this bullish engulfing candle once we see the bullish candles
that close we look for a bit of a pullback and then we enter the trade
long so in this case we entered the trade along here and we oh and we stay
in the trade for as long as price is moving higher and then we see that price
starts to go sideways here and pull back so we have multiple red candles this
shows that price could go lower now so we exit their trade from entry to exit
here we get 80 pips in our trade so just to recap Morningstar trade setup
is formed with three candlesticks once we see the Morningstar traits at our
form we wait for a bit of a pullback and we enter the trade long as this is a
bullish chart pattern and we stay with the trade for as long as price is moving
higher once we see that the price starts to pull back and we see multiple red
candles here we exit their trade our stop would be below our chart pattern
here we need to make sure we give our trade some room to breathe from entry to
exit here we get 80 pips in our trade so the profit would be $800 if trading one
standard lot if you’d like to learn more profitable forex trading strategies like
this one I invite you to visit my course at trading with Venus comm /for
scores in the course I will show you how to read the candlesticks and different
chart patterns we’ll do a deep dive into technical analysis and I will show you
how to read the charts properly what trade setups you’re looking for and how
do we trade these setups properly I will also show you what are the important
fundamental things that you need to pay attention to how the different
fundamental factors drive market price I will also share with you the trading
strategies that I personally use that I have found to be the most profitable
we’ll also talk about trade management and how to manage your account and
manage your risk so that you become a profitable trader I will also show you
tons of examples that you can go and check out so that you are able to see
these trades setup in the live markets as well as a bonus you will get access
to my pivot point indicator if you have watched any of my videos you know I
really love trading the pivot points so you will receive that as a special bonus
the price of the course is four hundred and ninety seven dollars to sign up for
it please go to trading with Venus com forward slash forex course may be so
much for joining me for this video I hope you enjoyed this trade setup if you
liked this episode please feel free to subscribe to the channel as well as
share it with your friends who may find this beneficial I’ll be back with
another great rates are up next time

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