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Oil - (final) Morning Star?
(daily candle formation Wed., 10th Feb. 2016 - Friday, 12th Feb. 2016)
As can be seen in the following example a MORNING STAR is characerised by 3 candles, in which the doji (the candle inbetween the 3-candle-formation) represents the indecision of the market participants and the 3rd candle the final decision to the upside! Psychological wrap-up: After an initial capitulation (1st candle), indecision is marked on the 2nd-trading-candle to be followed-up by a confirmation candle; Of course one has to follow the subsequent candles to this formation, showing/confirming if this Downtrend Reversal Pattern really leads to a sustainable recovery versus the Downtrend before (my suggestion to you: the Risk-techniqe/topic "Stop-Loss" may be studied in depth by people interested in Risk-Management for the short-term-horizon; For Long-Term Investors SL may be not that important for you?!).
Another idea: At least half of the "first candles" should be pierced by the 3rd "turnaround"-candle:
explanation-video/link: http://www.aboutcurrency.com
other sources re. "Morning Star": http://www.investopedia.com
