Shooting Star Candlestick Pattern

Shooting star, Candlestick Pattern,Bearish Signal, Japanese candlestick,long lower shadow,up trend reversal candlestick pattern,Tamil share,hammer,

Shooting Star or Bearish Pin Bar, The shooting formation is formed when the open low, and close are roughly the same price. This candle is characterized by a small body and a long upper shadow. 

It is the bearish version of the hammer. Professional technicians say that the shadow should be twice the length of the real body.


When this pattern occurs in an uptrend. It indicates a Bearish Reversal Signal.

The psychology behind the formation of this pattern is that buyers try to push the market higher, but they got rejected by a selling pressure.

When this candlestick forms near a resistance level. It should be taken as a high probability setup.


The chart above shows a nice shooting star at the end of an uptrend.

The formation of this pattern indicates the end of the uptrend move, and the beginning of a new downtrend. This candlestick pattern can be used with support and resistance, supply and demand areas, and with technical indicators.

The shooting star is very easy to identify, and it is very profitable, it is one of the most powerful signals that i use to enter the market.

COMMENTS

BLOGGER
Name

Basic of Stock Market,11,Book Summary,1,Business,7,Candlesticks,10,Finance,4,fundamental Analysis,2,Health,8,Investing,2,Money Management,3,Open Free Demat Account,3,Successful Rules,7,Trading Plan,2,Trading Psychology,4,
ltr
item
Markets Story: Shooting Star Candlestick Pattern
Shooting Star Candlestick Pattern
Shooting star, Candlestick Pattern,Bearish Signal, Japanese candlestick,long lower shadow,up trend reversal candlestick pattern,Tamil share,hammer,
https://lh3.googleusercontent.com/-Z4DdRW-xcls/Xzppzfvd4cI/AAAAAAAAALk/eujEAvS3aAM65RLVa9Z_HOXRWZ26KA-rwCLcBGAsYHQ/w400-h159/1597663689095168-0.png
https://lh3.googleusercontent.com/-Z4DdRW-xcls/Xzppzfvd4cI/AAAAAAAAALk/eujEAvS3aAM65RLVa9Z_HOXRWZ26KA-rwCLcBGAsYHQ/s72-w400-c-h159/1597663689095168-0.png
Markets Story
https://www.marketsstory.com/2020/08/shooting-star-candlestick-pattern.html
https://www.marketsstory.com/
https://www.marketsstory.com/
https://www.marketsstory.com/2020/08/shooting-star-candlestick-pattern.html
true
2085366207185187414
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content