Shooting Star Candle Pattern

Inverted Hammer Bullish XAUUSD Candle Patterns

Inverted Hammer Candlestick Pattern and Shooting Star Candlestick Pattern candlesticks look alike. These have a long upper shadow and a short body at the bottom. Their color does not matter. What matters is the point where they appear whether at the top of a market xauusd trend (star) or the bottom of a market xauusd trend (hammer).

The difference is that inverted hammer is a bullish reversal xauusd pattern while shooting star is a bearish reversal xauusd pattern.

Upward XAUUSD Trend Reversal - Shooting Star Candlesticks

Downward XAUUSD Trend Reversal - Inverted Hammer Candlesticks

Inverted Hammer Candlestick Pattern and Shooting Star Candlestick Pattern Gold Chart Patterns

Inverted Hammer XAUUSD Trading Candle

This is a bullish reversal candle stick pattern. It occurs at the bottom of a XAUUSD trend.

Inverted hammer occurs at the bottom of a down xauusd trend & indicates the possibility of reversal of the downwards gold trend.

Inverted Hammer XAUUSD Trading Candle

Technical Analysis of Inverted Hammer XAUUSD Trading Candle

A buy is completed when a candle stick closes above neckline, this is opening of the candle stick on the left side of this pattern. The neckline point in this case forms the resistance level.

Stop orders for the buy gold trades should be set a few pips below the lowest gold trading price on the recent low.

An inverted hammer is named so because it signifies that the xauusd market is hammering out a bottom.

Shooting Star Candlestick

This is a bearish reversal candlestick pattern. It occurs at top of a market trend.

It occurs at the top of an up xauusd trend where the open gold trading price is the same as the low and gold price then rallied up but was pushed back downward to close near the open.

Shooting Star Candlestick

Technical Analysis of Shooting Star Candlestick

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

Stop orders for the sell gold trades should be set a few pips above highest gold trading price on the recent high.

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