Watch this Candle: AUS200 Daily Shooting Star

FX:AUS200   S&P/ASX Index
1094 4 29
Candle Signal: Shooting Star
Implication: Bearish

Invalidation: Closing above the candle High
Warning: It is strongly recommended not to count on candlestick signals only for trading, use it in conjunction with other technical and fundamental tools.

Subscribe to
I teach my experience conclusions in 10+ trading strategies. PM me for details and cost.
Hi, I have also added Fibonacci retracement on this chart, and the shooting star just missed out on 5250(0.618) on the Daily chart and 5238(0.382) on the 4 H chart.
Base on FIBO, is probably to touch back on 4974 (D,4H chart) before making a run higher, but if it can not hold 4974 and the USA interest rate goes up, then Bear market will be in control .
+1 Reply
Technician Only-ASX200
Well, as long as there are sufficient reasons to have a bias then a trade is valid, even if it doesn't end successfully.
+1 Reply

Hi Technician, thank you for sharing, just my view, I think it is good to have a short here with SL above 20 dma. If we need more confirmation, we should wait for today candle close in red (price absolute belove 20 dma), I'm still learning more about candle stick.
Technician MIchaelTran
Thanks for the comment. I am just highlighting the candlestick formation, just a heads up.
Good luck to you.
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out