11 January 2021
Glossary
Shooting Star
Shooting Star

The shooting star pattern refers to reversal indicators. It appears at the resistance level and indicates that the uptrend is coming to an end.

The shooting star pattern refers to reversal indicators. It appears at the resistance level and indicates that the uptrend is coming to an end. A shooting star can be either bullish or bearish. It doesn't matter at all. The signal it gives is a downward reversal.
On the chart, a shooting star looks like this - it has a small body and a very long shadow upward.
It is quite easy to identify such a pattern on the chart. It is necessary to pre-designate the levels, and if a model with a very long upper shadow and a small body appears near the resistance, then you are dealing with a shooting star. By the way, it is important to note that the lower shadow of the shooting star is either absent or very short.
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