Is Shooting Star Candle Pattern Bullish or Bearish?

Shooting Star candlesticks pattern is a bearish reversal candle-stick pattern. It occurs at tops of a market trend.

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

Shooting Star Bearish CFD Candles Pattern

Technical Analysis of Shooting Star Candle Pattern

A bearish reversal sell signal is completed when a candlestick closes below neckline, this is opening of the candle-stick on leftside of this shooting star pattern. 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 upward cfd market cfd trend this cfd candlestick pattern looks like a shooting star up in the sky.