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Thread: What is the shooting star in the forex trading?

  1. #1
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    Lightbulb What is the shooting star in the forex trading?

    I will working about the forex trading some month and i hear about from the professional trading about the shooting start but i not know what is this term so do you know about the shooting star in the forex trading.do you know about this term?

  2. #2
    Senior Member farwa bukhari's Avatar
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    Shooting star is candlestick pattern. Shooting star indicates the buyers in the market fail to sustain new height which results in downward reversal.it has a small body on bottom and long upper shadows.

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    Senior Member Astroforex's Avatar
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    Quote Originally Posted by farwa bukhari View Post
    Shooting star is candlestick pattern. Shooting star indicates the buyers in the market fail to sustain new height which results in downward reversal.it has a small body on bottom and long upper shadows.
    You already give a good explanation about shooting star. However we can't relying with candlestick pattern too much since the accuracy of this pattern is only around 70% and sometime it will not give accurate result if we are using small timeframe.

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    Quote Originally Posted by farwa bukhari View Post
    Shooting star is candlestick pattern. Shooting star indicates the buyers in the market fail to sustain new height which results in downward reversal.it has a small body on bottom and long upper shadows.
    you are pretty correct shooting star is the candlestick pattern and it has a small body which indicates that the movement of price was high but it failed to sustain the position and closed near the opening price

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    shooting star pattern is consists of three candles and it helps us in making trades and its appearance is responsible for extreme bullish and bearish patterns

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    one of candlestick pattern where represent strong signal of reversal. but before trader take position, better wait the next candle pattern as confirmation. rely on shooting start candle only as reference to open position is not advisable because market is not that easy to predict.

  7. #7
    Senior Member XENX's Avatar
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    Shooting star will be candlestick design. Meteor signifies this potential buyers out there forget to have brand-new stature which results throughout downhill volt-face. It possesses a small sound box on bottom in addition to prolonged second dark areas.

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    Shooting star indicates the buyers in the market fail to sustain new height which results in downward reversal

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    Where represent strong signal of reversal. but before trader take position, better wait the next candle pattern..

  10. #10
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    shooting star is pattern of candlestick mostly trader use it for reversal trading but i prefer pin bar pattern which is more famous to trade in a reversal way.

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