Shooting Star Candlestick Pattern - Reversal Candlestick Patterns: Bearish Candlestick Patterns PDF

Shooting Star Candle Pattern - Reversal Candlesticks: Bearish Candle Patterns

Shooting Star Candles Pattern is a bearish reversal candle sticks pattern. It forms at the tops of a forex trend.

Shooting Star Candle-Stick Pattern occurs at the top of a forex uptrend where the open forex price is the same as the low - and forex price then rallied up but was pushed back down to close near the open.

Shooting Star Candlestick Pattern Reversal Candlestick Patterns: Bearish Candlestick Patterns

Technical Analysis of Shooting Star Candles Patterns

A sell is confirmed when a candlestick closes below the neckline of this shooting star candlestick pattern, this is the opening of the candlestick on the left side of this candlestick pattern. The neck-line in this case is a support level.

Stop loss orders for the sell trades should be set a few pips above the highest price on the recent high.

The Shooting Star candlestick is named so because at the top of an upward forex market trend this candlestick pattern looks like a shooting star up in the sky.