Is Shooting Star Stock Indices Candle Pattern Bullish or Bearish?

Shooting Star candles pattern is a bearish reversal candle-stick pattern. It occurs at tops of a market trend.

Shooting Star stock indices candlesticks pattern occurs at top of an up indices trend where the open stock indices price is same as the low & stock indices price then rallied up but was pushed back downward to close near the open.

Shooting Star Bearish Indices Candles Pattern

Technical Analysis of Shooting Star Candlestick Pattern

A bearish reversal sell is confirmed when a candlestick closes below the neck line, this is opening of the candlestick on left side of this shooting star pattern. The neck-line in this case is a support zone.

Stop orders for the sell stock indices trades should be placed a few pips above highest stock indices trading price on the recent high once a trader decides to open trades based on this shooting star candles pattern. The Shooting Star stock indices candlesticks pattern is named so because at the top of an upward stock indices market indices trend this stock indices candlestick pattern looks like a shooting star up in the sky.