Shooting star forex pattern
traded down. The long upper shadow represents the buyers who bought during the day but are now in a losing position because the price dropped back to the open. The shooting star is one of the more visually arresting candlestick patterns since its mere appearance looks very starkly like a downward signal. The size of the upper shadow should be at least twice the length of the body and the high/low range should be relatively large.
Shooting Star patterns interpreted by analysts and traders?
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This candlestick pattern consists of three individual forex candles.
Unless otherwise stated, each individual candle can be either bullish or bearish.
Shooting star trading analysis example. It appears after an uptrend. Charts with Current CandleStick Patterns m maintains a list of all stocks that currently have common candlestick patterns on their charts in the Predefined Scan Results area. The first long white candlestick forms in the direction of the trend. There should be room to maneuver, especially when dealing with stocks and indices, which often open near the previous close. The next candle's high must stay below the high of the shooting star and then proceed to close below the close of the shooting star. It signals that significant buying pressure remains, but could also indicate excessive bullishness. If the small candlestick is a doji, the chances of a reversal increase.
Learn forex: How to Trade Shooting Star Candle Patterns
Shooting Star Definition and Applications - Investopedia
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