What is a Shooting Star?
A Shooting Star is a bearish candle with a long upper shadow, practically no lower shadow, and a little genuine body close to the low of the day. It shows up after an uptrend. Said in an unexpected way, a shooting star is a kind of candle that structures when a security opens, propels essentially, yet then shuts the day close to the open once more.
For a candle to be viewed as a shooting star, the formation must show up during a price advance. Additionally, the separation between the most significant expense of the day and the initial cost must be more than twice as extensive as the shooting star's body. There ought to be next to zero shadow underneath the genuine body.
KEY TAKEAWAYS
A shooting star happens after a development and shows the price could begin to fall.
The arrangement is bearish in light of the fact that the value attempted to rise essentially during the day, however, then the sellers dominated and pushed the price down toward the open.
Traders commonly hold back to perceive what the following light (time frame) follows a shooting star.
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