Shooting Star Candlesticks Pattern
Shooting Star Candlesticks Pattern
Shooting Star Candles Pattern is a bearish reversal candlesticks pattern setup formation. It forms at the top of a market trend.
Shooting Star Candles Pattern occurs at the top of a upwards trend where the open price is the same as the low - & price then rallied up but was forced pushed back downwards to close near the open.
Shooting Star Candles Pattern Reversal Candle-sticks Patterns: Bearish Candlesticks Pattern Setups
Trading Analysis of Shooting Star Candles Patterns
A sell is confirmed when a candlesticks closes below the neck line of this shooting star candles pattern, this is the opening of the candles to the left side of this candles pattern setup formation. The neck-line in this case is a support area.
Stop Loss orders for the sell trades should be placed a few pips above highest price on the recent high.
The Shooting Star candles is named & called so because at the top of an upwards trend this candlesticks pattern setup formation resembles and looks like a shooting star up high in the sky.
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