Shooting Star Candlestick Pattern

Inverted Hammer Bullish Candlestick Setups

Inverted Hammer Candle Pattern and Shooting Star Candle Pattern look alike. These have a long upper shadow & a short body at the bottom. Their fill color does not matter. What matters is the point where they appear whether at the top of a market trend (star) or the bottom of a market trend (hammer).

The difference is that inverted hammer is a bullish reversal oil setup while shooting star is a bearish reversal pattern.

Upward Trend Reversal - Shooting Star Candles

Downward Trend Reversal - Inverted Hammer Candles

Inverted Hammer Candle Pattern and Shooting Star Candle Pattern Chart Setups

Inverted Hammer Crude Candlestick

This is a bullish reversal candlestick setup. It forms at the bottoms of a trend.

Inverted hammer occurs at the bottom of a down trend & indicates the possibility of a reversal of the downward trend.

Inverted Hammer Trading Candlestick

Analysis of Inverted Hammer Candlestick

A buy is completed when a candle closes above the neck-line, this is opening of candle on left side of this pattern. Neckline in this case is a resistance zone.

Stop orders for the buy crude trades should be set few pips below the lowest crude price on the recent low.

An inverted hammer is named so because it shows that the market is hammering out a bottoms.

Shooting Star Candlestick

This is a bearish reversal candle pattern. It forms at the top of a market trend.

It occurs at the top of an up trend where the open price is same as the low & price then rallied up but was pushed back downwards to close near the open.

Shooting Star Candle

Technical Analysis of Shooting Star Candlestick

A sell is completed when a candle closes below neck line, this is the opening of candle on left side of this pattern. Neckline in this case is a support zone.

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

The Shooting Star candle-stick is named so because at the top of an upward market trend this candle pattern resembles a shooting star up in the sky.