Commodity Trading Interpret Shooting Star Candlestick Pattern Bullish or Bearish

Shooting Star candles pattern is a bearish reversal candlestick pattern. It forms at the tops of a commodities trend.

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

Commodity Trading Interpret Shooting Star Candlestick Pattern Bullish or Bearish

Technical Analysis of Shooting Star Candle Pattern

A bearish reversal sell is completed when a candle stick closes below neckline, this is opening of the candlestick on the left side of this shooting star pattern. The neck line in this case is a support level.

Stop orders for the sell commodities trades should be placed a few pips above the highest commodity price on the recent high once a trader decides to open trades based on this shooting star candlesticks pattern. The Shooting Star commodities candlesticks pattern is named so because at the top of an upward commodity price trend this commodity candle pattern looks like a shooting star up in the sky.