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Inverted Hammer Candlesticks and Shooting Star Candlesticks

Bullish Stock Index Candlestick Patterns Tutorial and Bearish Stock Index Candlestick Patterns Tutorial

Inverted Hammer Stock Indices Candlestick Pattern and Shooting Star Stock Indices 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 stock indices trend (star) or the bottom of a market stock indices trend (hammer).


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


Upward Stock Indices Trading Trend Reversal - Shooting Star Candlesticks


Downward Stock Indices Trading Trend Reversal - Inverted Hammer Candlesticks



Inverted Hammer Stock Indices Candlestick Pattern and Shooting Star Stock Index Candlestick Pattern

Inverted Hammer Stock Indices Candlestick Pattern and Shooting Star Stock Indices Candlestick Pattern Stock Index Chart Patterns



Inverted Hammer Candlestick

This is a bullish reversal candlestick pattern. It occurs at the bottom of a Indices trend.


Inverted hammer occurs at the bottom of a down stock indices trend and indicates the possibility of reversal of the downward stock index trend.


Inverted Hammer Candlestick

Inverted Hammer Candlestick


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Technical Analysis of Inverted Hammer Candlestick

A buy is confirmed when a candlestick closes above the neckline, this is the opening of the candlestick on the left side of this pattern. The neckline in this case is a resistance level.


Stop orders for the buy stock index trades should be placed a few pips below the lowest stock index price on the recent low.


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



Shooting Star Candlestick

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


It occurs at the top of an up stock indices trend where the open stock index price is the same as the low and stock index price then rallied up but was pushed back down to close near the open.


Shooting Star Candlesticks Stock Index Chart Pattern

Shooting Star Candlestick



Technical Analysis of Shooting Star Candlestick

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


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


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

 

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