Evening Star
Bearish Abandoned Baby | Bearish Engulfing | Bearish Kicking | Bullish Abandoned Baby | Bullish Engulfing | Bullish Kicking | Dark Cloud Cover | Evening Doji Star | Evening Star | Falling Three Methods | Identical Three Crows | Morning Doji Star | Morning Star | Rising Three Methods | Three Black Crows | Three Inside Down | Three Inside Up | Three Outside Down | Three Outside Up | Three White Soldiers |
Reliability: high
Identification
A long white day is followed by a small body that gaps in the direction of the trend. The third day is a black day that closes in the bottom half of the white candle.
Psychology
In an uptrend or within a bounce of a downtrend, the market gaps up but does not continue its upward movement. Instead enough bears step up to bring supply and demand back into equilibrium so a small body forms. A subsequent follow through gap down that closes below the midpoint of the white day completes the pattern and confirms the reversal.
The bearish Evening Star is similar to the bearish Evening Doji Star, bearish Abandoned Baby, bearish Doji Star, bearish Two Crows, and bearish Upside Gap Two Crows.