What's a Shooting Star Candlesticks Pattern in XAUUSD?

What Does Shooting Star Candlestick Mean? Shooting Star Candle Definition

Shooting Star xauusd 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's Shooting Star Candlestick in XAUUSD? - Shooting Star Candlestick Pattern

XAUUSD Candles Pattern

A sell is completed when a candlestick closes below neck-line, this is opening of the candlestick on left side of this 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.

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