Shooting Star Candlestick Formations

shooting star trend reversal indication candlestick pattern

The Bearish Shooting Star Pattern and the evening star pattern are not usually strong reversal signs. The color of the shooting star can be red or green.

When another red candlestck comes in it enforces confirmation of the trend reversal.

Trading Psychology

1.It is a sign of trend indecisiveness and a weakness to the strength of a trend signaling a possible trend reversal.

2. At a certain level there was no more buyers indicating the perception that this was no longer an attractive price. Sellers did not enter aggressively enter showing haste and uncertainty.

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