How Do You Draw Shooting Star Candles Setup?

Shooting Star candlesticks setup is a bearish reversal candle pattern. It occurs at the tops of a market trend.

Shooting Star candle-sticks setup occurs at the top of an upwards trend where the open price is same as the low & price then rallied up but was pushed back down to close near the open.

Interpret Shooting Star Candlestick Bullish or Bearish

Technical Analysis of Shooting Star Candle Pattern

A bearish reversal sell trading signal is confirmed when a candle closes below the neck line, this is opening of candle-stick on leftside of this shooting star setup. The neck line in this instance is a support zone.

Stop orders for the sell trades should be set a few pips above the highest price on the recent high once one decides to open trades based on this shooting star candles setup. The Shooting Star candle-sticks setup is named so because at the top of an upwards market trend this gold candle pattern looks like a shooting star up in the sky.