60-Days (Technical Analysis Training)

Shooting Star Candle Stick Pattern

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Technical Analysis Training
This is the 7th Day course in a series of 60-Days called “Technical Analysis Training”

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Shooting Star Candle Stick Pattern

Effect of Shooting Star

A Shooting Star indicates which the prior uptrend is about to end and also may reverse on to a downtrend or move sideways. This pattern is an sign of the financial instrument’s SHORT-TERM outlook.

Story

A Shooting Star forms when the Top Shadow is greater when compared to the actual Body along with the Lower Shadow is little or non-existant. The Shooting Star is the same because an Inverted Hammer, solely the Shooting Star appears by the end of an uptrend, while the Inverted Hammer appears during the end of a downtrend.

Factors That Supports

The Actual Body of the Shooting Star should “gap” away from all the Real Body of the preceding period. The enhanced the size of which gap the more significant the Shooting Star. Measure the gap involving the Real Bodies if you take the lower of the open or perhaps the close for the Shooting Star and additionally comparing it to the higher than average of the open or perhaps close for the past period. If in case the Shooting Star’s lower value is better than the preceding period’s higher than average value then a gap is present.

The Lower Shadow of the Shooting Star must be close to zero.

The Upper Shadow of the Shooting Star needs to be since big as is possible. The bigger the Upper Shadow, the more important the Shooting Celebrity.

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TABLE OF CONTENTS

Candlestick and Chart Patterns (15 Days)

7 Most Important Candlestick Chart Patterns

Top 2 Bearish Chart Patterns

Top 6 Bullish Chart Patterns

Indicators & Oscillators (12 Days)

Bullish or Bearish Indicators

Bullish or Bearish Oscillators

Classic Chart Patterns (29 Days)

Bearish Classic Chart Patterns

Bullish Classic Chart Patterns

Best Trading Theories (4 Days)

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Moneymunch's editors' staff. They have been writing/working on the financial markets for over two decades, having previously worked with popular financial blogs and newspapers.

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