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

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

Shooting Star crude oil candle sticks pattern occurs at the top of an up oil trend where the open crude oil price is same as the low & crude oil trading price then rallied up but was pushed back down to close near the open.

Shooting Star Bearish Oil Trading Candles Pattern

Technical Analysis of Shooting Star Oil Trading Candle Pattern

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

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