Morning Star

This is a bullish pattern signifying a potential bottom. A three-candle bullish reversal pattern consisting of three candlesticks:

  • A long-bodied black candle extending the current downtrend
  • A short middle candle that gapped down on the open
  • A long-bodied white candle that gapped up on the open and closed above the midpoint of the body of the first candle.

Money Management

Money management is perhaps the least realized and most important weapon in a trader’s arsenal. A large percentage of Forex traders fail because they don’t have the concept of money management firmly in their grasp. In order to constantly wager hundreds or thousands of dollars, traders have to know the potential of every penny they are risking.