Trading CFD Analyze Shooting Star Candles Pattern

Shooting Star candles pattern is a bearish reversal candle stick pattern. It forms at the top of a market trend.

Shooting Star cfd candle-sticks pattern occurs at the top of an upward cfd trend where the open cfd price is same as the low and cfd price then rallied up but was pushed back downward to close near the open.

Interpret Shooting Star Candles Pattern?

Technical Analysis of Shooting Star Candle Pattern

A reversal sell signal is completed when a candlestick 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 cfds trades should be set a few pips above the highest cfd price on the recent high once a trader decides to open trades based on this shooting star candlesticks pattern. The Shooting Star cfd candlesticks pattern is named so because at the top of an upwards cfd market trend this cfd candlestick pattern looks like a shooting star up in the sky.