Shooting Star Pattern

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Shooting Star Candlestick Pattern How To Identify And Trade

In technical analysis a shooting star is interpreted as a type of reversal pattern presaging a falling price The Shooting Star looks exactly the same as the Inverted hammer but instead of being found in a downtrend it is found in an uptrend and thus has different implications Shooting Star Candlestick Pattern is a bearish reversal candlestick pattern. It has a small body, and the upper wick size is at least twice the size of the body. This candlestick has no lower wick, or sometimes it has a tiny lower wick, which is okay. The price must be in an uptrend before the this candlestick forms.

How to trade using the shooting star candlestick pattern forex trading

How To Trade Using The Shooting Star Candlestick Pattern Forex Trading

Shooting Star PatternHere we introduce the shooting star pattern — a notable figure in candlestick charts that traders often view as a signal of bearish reversals. This guide will help you understand this pattern, shedding light on its structure and relevance in trading. The Shooting Star is a candlestick pattern to help traders visually see where resistance and supply is located After an uptrend the Shooting Star pattern can signal to traders that the uptrend might be over and that long positions could potentially be reduced or completely exited