Shooting star candle: The Shooting Star pattern is a

The Shooting Star pattern is a useful candlestick signal for identifying potential trend reversals from bullish to bearish after an uptrend.It has a classic small body with a long upper wick and can be misunderstood easily for the Inverted Hammer pattern. The shooting star is a single bearish candlestick pattern that is common in technical analysis. The candle falls into the “hammer” group and is a first cousin of the – hanging man, hammer, and inverted hammer. If you’re unfamiliar with any of these patterns, check out our Quick Reference Guide. In this post, we will discuss the following topics: What is a shooting star candlestick pattern? How to trading shooting star candlestick patterns What is a hammer candlestick pattern How to ... A shooting star candlestick pattern is a bearish formation in trading charts that typically occurs at the end of a bullish trend and signals a trend reversal. It is a popular reversal candlestick pattern that occurs frequently in technical analysis and is simple and easy to identify. In this article, we are going to cover all the basics you need to know in order to start using and identifying the shooting star candlestick pattern. Learn how to find and read a shooting star candlestick pattern. We explore how to use a shooting star in trading strategies using examples.