Shooting Star candlestick pattern is formed by a bearish reversal candlestick pattern that occurs at the top of uptrend. A shooting star pattern is a chart that occurs when an asset market price is pushed up but rejected and closed near the open price. They will create a long upper and small lower wick. The upper wick takes at least half of the length of the candlestick for a shooting star and appears at the top of an uptrend. A pattern formation is a bearish reversal pattern consists only one candle. The shooting star is a single candlestick pattern which is common in technical analysis. It has a small body and a very long upper candlewick. The shooting star pin bar is made up of a single candlestick and reliable when they occur at the end of an uptrend. Candlesticks provide much insight into how market prices might behave. These patterns as signal entry and exit points for your trade. Some discover one of the most significant candlesticks in trading as a shooting star.
It is looks like an inverted hammer but it is found in an uptrend and not in a downtrend. A pattern is made with a small lower body and long upper wick which two times the size of the lower body. Shooting star formation must be during a price advance. It becomes an effective series of three or more consecutive rising candles with higher highs is formed. It will occur during a period of rising prices if a few recent candles were bearish. The shooting star is relevant when it appears at a potential market top. It is possible that the candle will warn reversal in the minor uptrend. A pattern can alert you to a change in the Intermediate trend. The stock should sharply as it appears in complete control. At some point the day or week the profit will ensue. The stock closes near unchanged as shown by a small real body. So a shooting star has a small real body and a large upper shadow. There will be no lower shadow or a very small one.
Shooting star should indicate a negative reversal in other words, market prices that could go down. To take advantage of falling prices you can do derivatives such as CFD or spread bets. Open or log in to an existing account. Then look for the asset you want to trade in the search bar. Enter your position size and then select sell in the deal ticket and confirm the trade. By reorganization shooting star, you can have another important tool to assign spotting signs of reversal.
view moreA shooting star pattern is a good tool for its simplicity. The Spotting pattern is straight forward. So the appearance of a candle by itself is flawed and if it appears near a resistance level then shooting star acts as a confirmation.
Here the prices are in circular order so that seller can control; part of one period that may not end up.
© 2020 All rights reserved My blogs (Posts) and videos is only educational purpose on stock market and depend on my self research and analysis. I can't advice to buy/sell any stock. because I'm not SEBI registered.If someone wants to inter the stock market, then my advice is first learn from an authorize institution or take advice from your authorized adviser.
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