Shooting Star Candle Pattern

Shooting Star Candlestick Pattern

Shooting Star Candles Pattern is a bearish reversal candles pattern. It forms at the top of a stock trend.

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

Shooting Star Candle Pattern Reversal Candlestick Chart Patterns: Bearish Stock Candle Patterns

Technical Analysis of Shooting Star Candlesticks 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 stocks candlestick pattern. The neckline in this case is a support level.

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

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