Shooting Star Candles Pattern

Shooting Star Candles Pattern

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

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

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

Gold Trading Analysis of Shooting Star Candles Patterns

A sell is confirmed when a gold candlesticks closes below the neckline of this shooting star candlesticks pattern, this is the opening of the gold 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 xauusd trades should be placed a few pips above highest xauusd price on the recent high.

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