What's a Shooting Star Candles Pattern?

What Does Shooting Star Candle Mean? Shooting Star Candle Definition

Shooting Star stock indices candlesticks pattern is a bearish reversal candle 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 Stock Indices Candle Pattern - Indices Candles Pattern

Technical Analysis of Shooting Star Stock Indices Candle Pattern

A sell is confirmed when a candle closes below neckline, this is the opening of the candle stick on the left side of this pattern. The neckline 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 price on the recent high.

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