What is a Shooting Star Candlestick in Forex? - Shooting Star Candle Pattern

What Does Shooting Star Candle Mean? Shooting Star Candlestick Definition

Shooting Star forex candles pattern is a bearish reversal candle stick pattern. It occurs at tops of a market trend.

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

What is Shooting Star Candlestick in Forex? - Forex Candlesticks Pattern

Technical Analysis of Shooting Star Candle Pattern

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

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

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