EFS Featured Studies of the Month:
Morning Star, Bearish Harami
The EFS library is full of new and useful strategies you can use for free in eSignal.
This month, we feature two pattern studies: One is a bullish reversal pattern and the other is a bearish reversal pattern.
This is a bullish reversal pattern formed by three candlesticks. The first is a down candlestick with a long real body, the second is a small real body that gaps lower to form a star, and the third is an up candlestick that closes above the midpoint of the first candlestick.
This is a bearish reversal pattern formed by two candlesticks in which a short real body is contained within the prior session's long real body. Usually, the second real body is red (as opposed to the green of the first real body). The Harami pattern is the reverse of the Engulfing pattern.
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