What is shooting star pattern?
A hammer pattern can be inverted to create a shooting star pattern, which indicates a potential market reversal to the downside. Market reversals to the downside are indicated by the shooting star pattern. The long tail appears on the top side of the candlestick body, instead of on the bottom side, as with the hammer pattern. This indicates that an attempt to push the price higher was unsuccessful.
May 30, 2022 08:17