Evening Star Pattern Explained: How To Identify And Trade The Evening Star Candlestick Pattern

Selling pressure then kicks in and causes an almost equally large bearish candle nearly erased the entire rally. In October, the Andromeda Galaxy is climbing the northeastern sky during evening. This large spiral galaxy, also designated Messier 31 and NGC 224, is 2.5 million light years from us, and covers an area of sky measuring 3 by 1 degrees (or six by two full moon diameters)! After Christmas Venus will quickly fade, vanishing from view soon after the turn of the new year, and passing inferior conjunction on Jan. 9. By mid-January it will reemerge as the "morning star" low in the southeast sky. Venus reaches its greatest elongation — its greatest angular distance — 47.1 degrees to the east of the sun on Oct. 29.

  • The three westernmost stars of Cassiopeia, Caph, Shedar, and Navi (Gamma Cas), also conveniently form an arrow that points towards M31.
  • The planet was eventually named after the Roman goddess of love because of its beauty.
  • The waxing gibbous moon will visit Saturn on the evenings of October 23 and 24, 2023.

A lovely waning crescent moon will join Venus and Regulus on the morning of October 10. Meanwhile, Mercury will rise in the east shortly before sunrise. Mercury will brighten from magnitude -1.0 to -1.3 before disappearing in the morning sun before mid-month. Its recent September 22 greatest elongation was the best morning apparition for Mercury in 2023 for the Northern Hemisphere. As October begins, the magnitude -1.0 planet Mercury will be visible above the eastern horizon for a short time before sunrise - but its daily drift sunward through Virgo will soon hide it from view. As the pair cross the night sky together, the moon's easterly orbital motion will carry it farther from Uranus and diurnal rotation will shift the moon above the planet in the hours before dawn.

It’s racing toward opposition on the evening of November 1-2, 2023, when we fly between it and the sun. The moon will float by Jupiter on October 2 and October 29, 2023. On the mornings of October 12 and 13, 2023, the thin waning crescent moon will lie just above the horizon in the eastern morning twilight before sunrise. Brilliant Venus and the bright star Regulus will be higher in the sky.

October 23 morning: Venus greatest distance from the sun

Long candlestick bodies are indicative of intense buying or selling pressure, depending on the direction of the trend. The heikin ashi is a Japanese candlestick-based charting tool that is a more modulated version of the traditional candlestick charting... Venus will reach greatest elongation – at 46 degrees – from the sun at 23 UTC (6 p.m. CDT) on October 23, 2023. After approximately 580 days Venus and the Earth line up again. Akatsuki – a second chance describes the mission of the Japanese spacecraft Akatsuki which is currently in orbit around Venus studying its weather.

  • On Sunday night, October 1, the bright, waning gibbous moon will shine close enough to the very bright planet Jupiter for them to share the view in binoculars (orange circle).
  • The Evening Star pattern is a candlestick pattern that appears at the end of the uptrend and signals that a downtrend is going to take place.
  • After inferior conjunction, it will appear to move away from the Sun and will rise and set earlier in the day and will start to become visible in the eastern sky before sunrise.
  • The moon will reach perigee – its closest point to Earth in its elliptical orbit, at 3 UTC on October 26, 2023 (10 p.m. CDT on October 25), when it’s 226,720 miles (364,872 km) away.

Watch for Draconid meteors on both October 8 and October 9 evenings. The Draconid meteor shower is a real oddity, in that its radiant point will be highest in the sky as darkness falls. That’s why you’ll see more Draconids in the evening hours than in the morning hours after midnight.

Moon at apogee around October 10

It’ll still outshine all natural objects in the morning sky except the moon. The waxing gibbous moon will pass the steady light of golden Saturn on the evenings of October 23 and 24, 2023. The Water Jar asterism of the constellation Aquarius the Water Bearer will shine nearby. You’ll be able to watch Saturn and the moon until they set after midnight. On the evening of October 18, 2023, the thin waxing crescent moon will float close to the bright red star Antares.

Sunday, October 29 - Bright Moon Points to Uranus (all night)

From then on it is branded as an “evening star,” rising or already in the sky as daytime ends. Venus has just passed a greatest elongation point which it reached on 12 January 2017, and it is a brilliant object index trading in the western sky, visible for at least 3 hours after sunset, depending on your latitude. Over the next few month as it gets closer to the Sun it will be visible for a shorter and shorter time after sunset.

How Does the Evening Star Pattern Use These Prices?

The Margex margin trading platform offers a wide range of built-in technical analysis tools that a crypto trader can use to scan for, identify, and trade the evening star pattern. The Margex trading platform will also allow you to short-sell crypto assets like Bitcoin, Ethereum, Litecoin, and more. The most successful and profitable forex risk management technical analysts review the price action of various assets in search of identifiable chart patterns, Japanese candlestick formations, or signals generated by technical indicators. The thickening waxing crescent moon will pass the Teapot – an asterism – of Sagittarius the Archer on the evenings of October 19 and 20, 2023.

Pleiades is also known as the Seven Sisters or Messier 45 and appears as a glittering, bluish cluster of stars in the constellation of Taurus the Bull. The bright waning gibbous moon will glow near Jupiter on the evenings of October 1 and 2, 2023. Also nearby is the lovely and delicate Pleiades star cluster, one of the cosmic gems in Taurus the Bull. The moon will rise about an hour after sunset, so this eye-catching trio will be visible traveling across the sky together until dawn. Things are somewhat different for the planets that orbit the sun beyond our own orbit — the so-called "superior" planets, Mars, Jupiter, Saturn, Uranus and Neptune. From then on it is branded as an "evening star," rising or already in the sky as daytime ends.

However, the atmosphere of the Evening Star is too hostile for life to exist. The atmospheric pressure on its surface is about 90 times greater than the earth’s. Neptune is roughly in the opposite direction of the Sun, so it is visible during most of the night. Evening Star patterns appear at the top of a price uptrend, signaling that the uptrend is going to end. It's advisable to consult various technical indicators to predict price movements rather than rely solely on the signals provided by one.

The evening star pattern isn't the only bearish indicator despite its popularity among traders. Other bearish candlestick patterns include the dark cloud cover and the bearish engulfing. Traders have their own preferences regarding what patterns to watch for when they want to detect trend changes. The evening star pattern is among eur gbp live one of the more reliable Japanese candlestick patterns and technical signals, because they are easy to spot and significant in terms of acting as a trend reversal. The success of trading an evening star pattern can be improved by combining the pattern with other signals like technical indicators, chart patterns, and more.

Unlike the evening star pattern, the morning star pattern occurs at the bottom of a downtrend and begins a new uptrend. The only true similarity is that there is a doji pattern as the middle candlestick, signaling indecision in the market. Step 1 - Scan the charts of various cryptocurrencies to search for a potential evening star pattern setup.

This 800 million year old impact scar is visible with unaided eyes and binoculars – but telescope views will reveal many more interesting aspects of lunar geology. In the constellation of Perseus, Algol, also designated Beta Persei, marks the glowing eye of Medusa from Greek mythology. The star is among the most accessible variable stars for skywatchers. During a ten-hour period that repeats every 2 days, 20 hours, and 49 minutes, Algol dims noticeably and re-brightens by about a third. This happens when a fainter companion star with an orbit nearly edge-on to Earth crosses in front of its much brighter primary, reducing the total light output we perceive. Anybody who has looked up into the western sky after sunset in the past month will have noticed a brilliant white object – the planet Venus,  sometimes called the Evening Star.

It’s the brightest star in the constellation of Scorpius the Scorpion. The subtle illumination on the unlit side of the moon is earthshine. Its glow is light reflected from the Earth enabling us to see the dark side of the moon. More than a month past opposition, the prominent, creamy-yellow dot of Saturn will shine well above the southeastern horizon after dusk as October begins. The magnitude 0.6 ringed planet will culminate due south in late evening and then set during the wee hours of the morning. Saturn will be travelling retrograde westward through western Aquarius all month long - with faint Neptune following 25 degrees to its east.

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