Technical analysis: What is Morning Star pattern?

The Morning Star pattern is a three-candle pattern that is bullish or can be also interpreted to be a sign of a reversal from a bottom. The pattern is usually used by traders as an early sign that the downtrend has reversed or is about to reverse. The first candle of the pattern is usually a red candle or a bearish candle with a large body. The first candle is followed by a gap down on the next day. It is usually a small-bodied candle that closes below the first. The third candle sees a gap up opening and closes well into the body of the first candle.