How Do You Draw Shooting Star Candles Pattern?

Shooting Star candles pattern is a bearish reversal candlestick pattern. It occurs at the tops of a market trend.

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

Interpret Shooting Star Gold Candlestick Bullish or Bearish

Technical Analysis of Shooting Star Candlestick Pattern

A bearish reversal sell trading signal is confirmed when a candle closes below the neck line, this is opening of candlestick on leftside of this shooting star pattern. The neckline in this case is a support zone.

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