Shooting Star Candlesticks Pattern

Reversal Candlestick Chart Patterns: Bearish Stock Indices Candle Patterns

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

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

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

Technical Analysis of Shooting Star Candles 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 stock indices candlestick pattern. The neckline in this case is a support zone.

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

The Shooting Star candlestick is named so because at the top of an upward stock indices market indices trend this stock indices candle pattern looks like a shooting star up in the sky.