Cosco - Poised for a breakup

Cosco is likely to have more upside this coming week.  It's weekly has just formed a Morning Star pattern (it has formed a similar Morning Star pattern on 5 Jan this year which subsequently propelled it from 0.435 to a high of 0.525 over the next 2 weeks+ (a 20% move).  Will be interesting to watch if this move plays out in the coming weeks.



Cosco weekly



Morning Star Pattern - Bullish

Candliesticks - Morning and Evening Star Patterns

Morning and Evening Star patterns are popular patterns to trade as the probability of success is rather high.  However do note that candlestick patterns are best for short term prediction and I would not rely on it for predicting a long term trend.

A Morning Star pattern is bullish and a follow through to more upside is expected over the next few candles while an Evening Star pattern is bearish and we expect more downside to come over the next few candles.

There are a lot of info about these patterns.  You may like to read more about them here:  https://www.babypips.com/learn/forex/triple-candlestick-patterns