Shooting Star Oil Candlestick Pattern

Reversal Candlestick Oil Trading Chart Patterns: Bearish Crude Oil Candle Patterns

Shooting Star Crude Oil Candlesticks Pattern is a bearish reversal candles pattern. It forms at the top of a oil trend.

Shooting Star Oil Candle Stick Pattern occurs at the top of a oil trading up oil trend where the open crude oil price is the same as the low - and crude oil price then rallied up but was pushed back down to close near the open.

Shooting Star Crude Oil Candle Stick Pattern Reversal Candlestick Oil Trading Chart Patterns: Bearish Crude Oil Candle Stick Patterns

Technical Analysis of Shooting Star Crude Oil Trading Candles Patterns

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

Stop loss orders for the sell crude oil trades should be placed a few pips above the highest oil price on the recent high.

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