Shooting Star Candlesticks Pattern
Shooting Star Candlesticks Pattern
Shooting Star Candles Pattern is a bearish reversal candles pattern setup. It forms at the top of a trend.
Shooting Star Candles Pattern occurs at the top of a upward trend where the open price is the same as the low - & price then rallied up but was forced back downward to close near the open.
Shooting Star Candles Pattern Reversal Candle-sticks Chart 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 candlesticks pattern, this is the opening of the candlesticks on the left side of this candles pattern setup. 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 candlesticks is named so because at the top of an upward trend this candlesticks pattern setup resembles a shooting star up high in the sky.
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