Shooting Star Candle
What is a shooting star candlestick.
Shooting star candle. The shooting star candle should come after a strong bullish trend. The first candlestick must be light in color and must have a relatively large real body. As with the evening star the shooting star formation consists of three candlesticks with the middle candlestick being the star. The cmf indicator must.
Shooting star candle strategy step 1. It is also one of the four types of stars in candle theory. The star may form within the upper shadow of the first candlestick. Like the inverted hammer it is made up of a candle with a small lower body little or no lower wick and a long upper wick that is at least two times the size of the lower body.
The shooting star candlestick is a chart formation consisting of a candlestick with a small real body and a large upper shadow. In combination with other indicators this pattern can represent a sell trade opportunity. The location or where the shooting star. It may also occur during a period of overall rising prices.
The shooting star candle is most effective when it forms after a series of three or more consecutive rising candles with higher highs. This pattern represents a potential reversal in an uptrend. Start first by preparing your charts. The shooting star signals that the current bullish trend is near its end and a reversal may take place soon.
The second candlestick is the star with a short real body that gaps away from the real body of the first candlestick. Morning evening doji and shooting. The shooting star is a single candle pattern of bearish nature.