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#Shooting star chart pattern how to#

Upward leading to the start of the candle pattern Upward leading to the start of the candle pattern. Shooting Star Versions : Single and two candle patterns Characteristic The Shooting Star should have very small or NO bottom shadows.

The colour is not considered important for the interpretation. Though the Shooting Star candlestick pattern is always considered as a sign of bearish reversal, the candle can be green or red in colour. There are main 2 versions, both share the same core construction but differ in who won the battle at the end of the timeframe. Below picture shows various versions of a Shooting Star candlestick. What Does the Shooting Star Candlestick Look Like?Ī Shooting Star candlestick looks like what the name suggests !!, a Shooting Star. There is a two-candle shooting star method which can be used as bullish continuation method as well. Is a Shooting Star bullish or bearish?Ī Shooting Star candlestick pattern in traditional analysis is a bearish reversal pattern. Here is a good video on Shooting star on Youtube. Here is a link to Wikipedia of Shooting Star. It still indicates a bearish reversal though. It can also occur at the end of up move during a consolidation phase also. It generally occurs at the end of a uptrend suggesting a possible reversal. The colour of the candle is not significant and can be green or red.

It has an upper shadow or wick which is two to three times the size of the real body and it has no or very small lower shadow. Shooting Star candle generally has a small but nonzero real body. The Shooting Star candlestick is one which has small real body and a long upper shadow or wick. What is Shooting Star Candlestick Pattern Spinning top vs Shooting star candlestick pattern.Shooting Star vs Inverted Hammer : are they same ?.Shooting Star vs Hanging Man Candlestick Pattern.Limitations of Shooting Star Candlestick Pattern.

#Shooting star chart pattern how to#

Examples of How to Trade Shooting Star candlestick pattern: Shooting Star trading strategy.

What does Shooting Star candlestick pattern mean?.

Frequency and importance of Shooting Star candlestick pattern.

Shooting Star Versions : Single and two candle patterns.

What Does the Shooting Star Candlestick Look Like?.

What is Shooting Star Candlestick Pattern.

If the price declines during the next period they may sell or short.

Traders typically wait to see what the next candle (period) does following a shooting star.

It is not used for trading on its own and needs confirmation from other indicators.

It generally occurs at the end of an extended uptrend or upward move in consolidation phase.

It occurs with medium to high frequency.

It is a bearish candlestick pattern ( bearish reversal to be precise).

Here are some key aspects of traditional Shooting Star candlestick pattern However, some information about two candle version will also be discussed. In today’s article we will see the traditional single candle shooting star pattern in detail. It is also used as a bullish continuation pattern. There is a two candle version of shooting star candlestick pattern. Shooting Star candlestick is used by many traders as a part of an overall trading strategy. It is a bearish candlestick pattern and it generally indicates a bearish reversal. Shooting Star candlestick pattern is a popular single candlestick pattern.