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Shooting Star

Bitcoin chart is bearish?According to candlestick charting criteria, we could determine a few signs of bearish implication (reversal patterns): 1. Hanging man candlestick (could be interpreted as dragonfly doji) 2. Shooting star 3. Double top as a strong reversal pattern (blue dotted line) And an additional bearish sign: 4. A decrease in price volume These are enough signs for pattern reversal but, bear in mind, candlestick charting technique cannot say how long will reversal trend lasting. Finally, this is not financial advice. Remember to always do your research before investing.
BITFINEX:BTCUSD
by Dinore
Price Action Lesson 6: Shooting Star Candlestick Pattern Def.Shooting Star Candlestick Pattern Definition: When the price highly increases during a day, but decreases to what it was at the beginning of the day or even lower, a considerable bearish retracement is occurred. The candlestick of this price action in the daily time frame is a Shooting Star. The Shooting Star in the daily time frame is a very strong signal for the possibility of more decrease in price during next days. Example: The chart shows the price of Gold in the time frame of 30 minutes. On Sep 08, 2017 the price significantly increased from 1348.80 to 1357.53, then it decreased more, and at the end of the day to it was closed at 1346.07. The corresponding Shooting Star candlestick of this price movement in the daily time frame is also drawn on the chart to better describe the concept.
FX_IDC:XAUUSDEducation
by ForecastCity
1
Price Action Lesson 7: Conditions of a Perfect Shooting StarConditions of a Perfect Shooting Star: Body is short. The height of the candlestick (the difference between high and low price) is tall enough and it's more than the Daily ATR(264). The taller the Candlestick is, the stronger the Shooting Star. The upper shadow (also known as upper wick or tail is the distance between the high price and the close or open price, whichever is higher) should be very tall, over than 75 percent of the Daily ATR(264) is better. The lower shadow (also called bottom wick or tail is the distance between the low price and the close or open price, whichever is lower) is nonexistent or very short. It should be less than 25 percent of the Daily ATR(264). The Shooting Star with the bearish body is stronger than the one with the bullish body. - The picture shows a perfect Shooting Star candlestick . As seen, the height of the candlestick is tall, but the body is very short. Also, the upper shadow is very tall and the lower shadow is very short. The close price is lower than open price, therefore the body of this Shooting Star is bearish , and the strength is very high.
COINBASE:ETHUSDEducation
by ForecastCity
7
weekly chart with bearish closelast week closed well below the 10- and 15-week dema line. we currently sit above the 7 week dema line but expect it to be tested likely in the immediate future. additionally, note that last week's candlestick took on somewhat of a shooting star formation, though not a true shooting star: the difference between open and high was not quite twice the body of the candle, and the lower wick was relatively long. nonetheless, we should look for other bearish confirmation signals in the coming weekly candlestick. if we fail to set a new high this week, expect the downtrend to continue. but as always, the best advisor is yourself, not a n00b like me.
BITSTAMP:BTCUSDShort
by dgcoco
A sudden flash crash turned a good day into a bearish dayEverything was looking dandy for bitcoin and litecoin...litecoin appeared to breaking out above a bull pennant and btc seemed well on it's way to the original head and shoulder pattern and then suddenly a whale or two must have decided to take a sizeable profit, enough to trigger an avalanche of auto sells creating FUD in the non auto sellers all culminating into ending the days candle on a shooting star doji. Never a good candle to see as it signals a trend reversal. I personally think it's just there to allow for a overdue retracement, and am still optimistic about the bulls. Especially with segwit finally being integrated...I also feel that this dip will finally kickstart the rest of the altcoin market which has been more or less flatlining ever since litecoin and btc went leroy jenkins on everyone now may be a good time for a brief short but I have a feeling it wont dip below our last retracements low. Tread cautiously and stay pragmatically optimistic. This short is only short term until the brief retracement is over..I think it will only be brief because I still think we will reach the head and shoulder price target as well as flirt with the top of the green channel.
BITFINEX:BTCUSDShort
by DrDovetail
7
NZDUSD SHOOTING STARGood day Traders! After a month long of rally of the NZDUSD pair, will this commodity currency stretched upward a little further, consolidate or rather started rotating to the downside respecting this key level of resistance around 0.7431? Price started rejecting higher prices after touching the level which pretty much coincides with the report of the New Zealand Consumer Price Index reporting to have low reading this month of only 1.6%. Though I'm not into news or fundamentals, its pretty obvious there was a sell off happened within the trading day printing a bearish pin bar also known as 'shooting star'. What's more interesting is that this price action signal is situated to a key level in the market that plunged this pair way back September 20 of last year. The question now is, will history repeat itself? Let's see what will happen soon. Thanks for reading. Will post the update of this trade setup soon. Cheers! Kindly check my link to know more about price action trading setups: livetotradefx.blogspot.com
Short
by livetotradefx
BCH CRASH IMMINENT In a time frame daily, if you can read Japanese candles. The last candle is called "shooting star" in which it comes from an upward trend and begins to form the body that came to the ATH and little by little begins to lose it. Bears win the battle and leave the sail almost completely disembodied (all shadow or wick) to change the trend in the next and become bearish. Everything, as long as the technical analysis works and the BTC became strong. We will see how it develops. Greetings and good week for everyone!
BLong
by AndresThomasShirakawa
19
USDJPY Weekly Trade AnalysisUSDJPY > 10/15-20/17 Trade Analysis Timeframe: 1W Shooting Star candle signals roll-over @ week's beginning. Break and Hold below 112.00 signals to 108.00 level. Expecting these levels to be Buyers area. Break and Hold above 112.00 can signal further rise to 115.00 level. High volatily expected as I believe we are in the "wacky" season where up is down and down is up! * Personal analysis only. Please use your own rules and strategies prior to entering market. ** Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources and level of experience.
by ALSM59