Candlestick School: Shooting Star Chart Pattern 🌠

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Candlestick patterns - the Shooting Star; a powerful reversal pattern. www.financial-s... PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE This is a tutorial on the Shooting Star Candlestick Pattern. When this pattern is used right it can be very good. Let's consider some examples, some winners, some losers, where our stop would be and how to formulate entry and exit targets as well as appropriate trading conditions where such a setup might work.
Trading the Shooting Star Candlestick Pattern
This is basically a push to highs on an intraday basis that fails. For a candlestick to be regarded as a shooting star, the setup must materialise on an upward (bullish) trend, and the distance between the highest price for the day and the opening price must be more than twice as large as the shooting star's body. The distance between the lowest price for the day and the closing price must be very small or non-existent. Let's assume you're using it at the end of an uptrend. If you're looking at it as a reversal signal - yes you're be able to use that but the probability of success at the end of an uptrend is going to be low but your risk:reward ratio is going to be high. I think there are some powerful conditions where it might be more appropriate to use this setup.
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[@bensilverberg9166]

Thank you - super lecture. I trade these end of day and I like that put prices are decent compared to the following day when there is more negativity

[@Hey_Mack_jay]

great video and detail, i would refer to this as a "stuff candle" . The last 6 months i have been doing it wrong . I have been entering when the candle body is 50% of the candle when i should be waiting for the body to be 25% or less of the candle . Thanks for video

[@kk3528]

Very well explained

[@oxbys3531]

It's so fun watching and hoping everyone gets rekt on the way down LOL

[@Andrea-lq8so]

Lots of good info. Really enjoy your vids!

[@myagentdeontia]

Great video ..very informative lesson....thank you .

[@netook8]

What would imply having a yearly candle like this? Reason being is Bitcoin is potentially forming it for the year of 2021. One could not see what the last two weeks of the year could do but lets assume negative news upcoming and a big crash. Bitcoin ends the year at $30,000 which is very close to the yearly open. This forms a small body with long wick that goes up to $69,000.

[@discoverbanknifty]

Good job 👍

[@lukegarcia3238]

Does it work well on 4hr???

[@alejandrorodriguez-xd3df]

Great video, thanks

[@KS-qj1gh]

Can you make a video about the best strategy for beginners?

[@ukspreadbetting]

hmm beginners - the market doesn't really distinguish between beginners and veterans but we do have a kind of beginners series of videos: kzbin.info/www/bejne/eaamdoWGfdipoMk If you also check our series on Money Management and Risk Management (check the playlists on this channel) I'm sure you will find many of the concepts useful.

[@bunnynikkipeaches2442]

Buy when the Stochastic or RSI is an the bottom and sell when its at the top . Super basic but a good start .

[@Rogzy2]

Hey, i got a question, how is that not an hammer ? or is it just a type of hammer ? Great video as always! ( good job on 100k sub)

[@MsDowntowns]

thank you for this info

[@HannanRKhan]

Nice

[@lemontblanc9305]

Can you do another video about short squeeze? Thanks

[@ukspreadbetting]

Please make a search on our channel: kzbin.infosearch?query=short+squeeze

[@mynameisneb]

This sounds like the exact opposite of the hammer