What is a Shooting Star Candlestick in Stocks?

What Does Shooting Star Candlestick Mean? Shooting Star Candle Definition

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

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

What's a Shooting Star Candlestick in Stocks? - Shooting Star Candlestick Pattern

Technical Analysis of Shooting Star Candle Pattern

A sell is completed when a candle stick closes below the neckline, this is opening of the candle stick on the left side of this pattern. The neckline in this case is a support zone.

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