Reversal Candlestick Chart Patterns: Bearish Gold Candle Patterns PDF

Shooting Star Candlestick Pattern

Shooting Star Candlesticks Pattern is a bearish reversal candles pattern. It forms at the top of a gold trend.

Shooting Star Candle Stick Pattern occurs at the top of a xauusd up trend where the open gold price is the same as the low - and gold price then rallied up but was pushed back down to close near the open.

Shooting Star Candle Pattern Reversal Candlestick Chart Patterns: Bearish Gold Candle Patterns

Technical Analysis of Shooting Star Candlesticks Patterns

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

Stop loss orders for the sell gold trades should be set a few pips above highest gold price on the recent high.

The Shooting Star candlestick is named so because at the top of an upward xauusd market xauusd trend this xauusd candle pattern resembles a shooting star up in the sky.