Evening Star Module 6

Watch Evening Star Module 6 - Izy Trades on Dailymotion

Transcript

00:00The next one we are going to look at will be the evening star. The structure or the characteristics

00:06of an evening star is it will somehow tell us there might be a possibility of a reversal. You

00:14will see a very strong bullish candle that pushes all the way up and then suddenly a bearish doji

00:20ish lookalike will pop out and then the next candle will be a strong bearish candle where the

00:26body closes below the doji candle. Okay so let's take a look into the chart and see where we can

00:33identify them. Let's go! Nice and easy. Easy tricks. Let's go!

00:41Now over here would be the same thing on a still on the US 30. Our 4-1-15 is done.

00:47Our trend line is done. Whole mumbo jumbo setup is done and we are going to identify

00:54an evening star. We can see that the market is currently reacting on the sub H4 resistance

01:02and then now it is resting on the H4 major resistance and an evening star has been formed.

01:09A bullish candle up a doji, a bearish doji followed by a bearish candle that close below

01:15the doji. We're going to enter the cell there. Your TP can be either on the sub or the H1 zone.

01:21I'm going to take it on the H1 zone. My stop loss is going to be the previous high. However,

01:26we cannot identify where the previous high was. We're just going to put it slightly above that

01:32zone and we will see how the trade reacts now. Since it is resting on the H4 major zone plus

01:39an evening star, I'm going to enter a little bit high over here. My lot size is increased

01:44and there we go. TP is hit. 4.9K. That's it. Nice and easy. Easy trades. Let's go.