Shooting Star Candlestick Pattern
Inverted Hammer Bullish Candle Setups
Inverted Hammer Candlestick Pattern & Shooting Star Candlestick Pattern candles look similar. These candlesticks have a long upper shadow and a short body at the bottom. Their colour doesn't matter. What matters is the point where these candlesticks appear whether at the top of a trend (star) or bottom of price trend (hammer).
Difference is that inverted hammer is a bullish market reversal setup while shooting star candlestick is a bearish reversal gold pattern.
Upwards Trend Reversal - Shooting Star Candles
Downwards Trend Reversal - Inverted Hammer Candles
Inverted Hammer Candlestick Pattern & Shooting Star Candlestick Pattern Chart Patterns
Inverted Hammer Candle
This is a bullish market reversal candlestick pattern. It forms at the bottom of a trend.
The inverted hammer forms at the end of a downtrend. It hints at a potential shift away from falling prices.
Inverted Hammer Candle
Trading Analysis of the Inverted Hammer Candle
A buy is completed when a candlestick closes above neckline, this is opening of the candle to the left side of this setup. The neckline point in this instance creates the resistance zone.
prevent orders for the buy trades ought to be set few pips underneath lowest fee on the most latest low.
Inverted hammer candle is named so because it demonstrates that the market is hammering out a bottom.
Shooting Star Candle
This is a bearish market reversal candlestick pattern. It forms at top of a market trend.
It occurs at the top of an up trend where the open price is same as the low and price then rallied upwards but was pushed back downward to close near the open.
Shooting Star Candle
Analysis of the Shooting Star Candle
A sell is completed when a candlestick closes below neckline, this is the opening of candlestick on left side of this pattern. The neck line in this instance is a support zone.
Stop orders to sell should be placed a few pips above the highest price in the most recent high price range.
The Shooting Star candlestick derives its name from its resemblance to a shooting star while appearing at the top of a bullish trend.
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