Reversal XAUUSD Candlesticks Chart Patterns: Bearish XAUUSD Candlesticks Patterns PDF

Shooting Star Candlesticks Pattern

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

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

Shooting Star Candlesticks Pattern Reversal XAUUSD Candlesticks Chart Patterns: Bearish XAUUSD Candles Patterns

XAUUSD Analysis of Shooting Star Candles Patterns

A sell is confirmed when a xauusd candlesticks closes below the neckline of this shooting star candlesticks pattern, this is the opening of the xauusd candlesticks on the left side of this xauusd candlesticks 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 xauusd candlesticks is named so because at the top of an upward xauusd trend this xauusd candlesticks pattern resembles a shooting star up in the sky.