What Happens in XAUUSD Trading after a Shooting Star Candlesticks Pattern?

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

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

What Happens in XAUUSD Trading after a Shooting Star Candles Pattern?

Technical Analysis of Shooting Star Candle Pattern

A bearish reversal sell is completed when a candlestick closes below the neck-line, this is the opening of the candlestick on the left side of this shooting star pattern. The neck line in this case is a support zone.

Stop orders for the sell gold trades should be set a few pips above highest gold price on the recent high once a trader decides to open trades based on this shooting star candlesticks pattern. The Shooting Star xauusd candlesticks pattern is named so because at the top of an upward xauusd market xauusd trend this xauusd candle pattern looks like a shooting star up in the sky.