Shooting Star Candles Pattern

Shooting Star Candlesticks Pattern

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

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

Shooting Star Candlesticks Pattern Reversal Stocks Candlesticks Chart Patterns: Bearish Stocks Candlesticks Patterns

Stocks Technical Analysis of Shooting Star Candlesticks Patterns

A sell is confirmed when a stocks candlesticks closes below the neckline of this shooting star candlesticks pattern, this is the opening of the stocks candlesticks on the left side of this stocks candles pattern. The neckline in this case is a support zone.

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 stocks candlesticks is named so because at the top of an upward stocks trend this stocks candlesticks pattern resembles a shooting star up in the sky.