Commodity Trading Read Shooting Star Candlestick Pattern Bullish or Bearish

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

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

Commodity Trading Read Shooting Star Candlestick Pattern Bullish or Bearish

Technical Analysis of Shooting Star Candlestick Pattern

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

Stop orders for the sell commodities trades should be set a few pips above highest commodity trading 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 market trend this commodity candle pattern resembles a shooting star up in the sky.