What is a Shooting Star Candles Pattern in Commodity Trading?

What Does Shooting Star Candlestick Mean? Shooting Star Candlestick Definition

Shooting Star commodities 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 up commodity trend where the open commodity price is same as the low & commodity price then rallied up but was pushed back down to close near the open.

What is a Shooting Star Candlestick in Commodity Trading? - Shooting Star Candle Pattern

Commodities Trading Candles Pattern

A sell is completed when a candle stick closes below neckline, this is opening of the candle stick on left side of this 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.

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