Reversal Candle-stick Chart Patterns: Bearish Candle Patterns PDF

Shooting Star Candle Setup

Shooting Star Candles Pattern is a bearish reversal candlesticks pattern. It occurs at the top of a trend.

Shooting Star Candlestick Pattern occurs at the top of a up trend where the open price is the same as the low - & price then rallied up but was forced back down to close near the open.

Shooting Star Candle Pattern Reversal Candle-stick Chart Patterns: Bearish Candlestick Setups

Analysis of Shooting Star Candles Patterns

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

Stop loss orders for the sell trade transactions should be set a few pips above highest price in the recent high.

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