Evening Doji Star candlestick pattern

The Evening Doji Star is a three-candlestick pattern indicating a bearish reversal and the end of an uptrend. This pattern is one of the most popular candlestick formations and is suitable for recognizing a top and selling your assets.

It represents a strong top-forming trend in the area of a resistance level. The doji is a symbol of indecision in the market and shows that bulls are losing momentum while bears may be gaining power. Can be considered a ‘reliable’ pattern.

The counterpart of the Evening Doji Star is the Morning Doji Star. Both the Morning Doji Star and the Evening Doji Star patterns are reversal formations and indicate a change in trend. Both have a doji candlestick in the middle (or as a 2nd candlestick). The patterns are the total opposite of each other: Evening Doji Star triggers bearish reversal, the Morning Doji Star - bullish reversal.

You also shouldn’t mistake the Evening Doji Star with Evening Star pattern. The difference is in the 2nd candle, the Evening Doji Star must have a doji candlestick.

Construction

1st

• candlestick in uptrend
• long green body

2nd

• doji candle (looks like thin line with small horizontal 'plus' sign or cross in center)
• candlestick body above 1st candlestick body
• candlestick low price below 1st candlestick high price^①

3rd

• long red body
• candlestick body below 2nd candlestick body
• candlestick closing price within the 1st candlestick body^②

The Evening Doji Star is therefore suitable for timing the exit from a long trade. It should be confirmed on the next candles by breaking out of the support zone (at least by two bearish candles).