Shooting star Bearish at top of trend

A shooting star can mark a top and is often retested. It is a reversal indicator after an up trend (long upper shadow is bearish as higher prices are rejected.).

Shooting Star (Shooting Star is the top candle) (Inverted Hammer)

Sometimes a pattern with four candlesticks occurs. They consist of an extra candle such as a doji or spinning top. When this occurs the pattern gets added strength and is more reliable. Also where a hammer occurs in conjunction with a spinning top or dooi, the result is stronger and more reliable.

Shooting Star with Spinning Top

Hammer and Spinning Top ri

0 0

Post a comment