Evening Star Pattern: Shape, Meaning, and Examples on Crypto Charts
Schematic of the Evening Star shape. What matters is the proportion of body and wicks, not the price figures.
Evening Star pattern shape
- The first candle is up with a large body.
- The second candle has a small body, at most half the first candle's body.
- The third candle is down with a large body and closes below the midpoint of the first candle's body.
General meaning
The mirror of the morning star: a rally that loses steam, one pause period, then a down period that gives back most of the rise. What it records is a change of control that plays out over three periods, not one.
Where it usually appears
Often appears at the top of a rally lasting several periods, and just below price areas that have repeatedly capped rallies before.
Worth noting. Full strength is assigned when the third candle closes below the first candle's open. Without that, the pattern is still marked but with lower strength.
See live detection on the chart
The CryptoHalley chart engine marks Evening Star automatically with id evening_star, no extra indicator needed. Open the chart and browse the labeled candles.
FAQ
- Does an evening star have to appear after a rise?
- The shape does require a big up first candle, but the engine doesn't check the longer trend behind it. Position relative to the trend is read from the chart.
- How rare is this pattern compared with single-candle patterns?
- Much rarer, because three conditions must be met in sequence on three consecutive candles. On the daily chart of a major pair, it usually appears a few times a year.
- Does the color of the middle candle matter?
- No. Only its body size is checked, because the essence of the "star" is a period with no clear direction between two large periods.