Shooting Star Gold Candlestick Pattern

Shooting Star XAUUSD Candlestick Pattern

Shooting Star XAUUSD Candlesticks Pattern is a bearish reversal candlesticks pattern. It forms at the top of a xauusd trend.

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

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

Technical Analysis of Shooting Star Gold 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 gold candlestick pattern. The neckline in this case is a support level.

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

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