Price Action Lesson 7: Conditions of a Perfect Shooting Star

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Conditions 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.

★ Professional Analysts Research
★ 4CastMachine AI
★ None-Stop Growth since 2007

26 Forex Pairs, CryptoCurrencies, Gold, Silver, Oil Weekly Forecast

28 Forex Daily Trading Opportunity

9 Forex Intraday Forecast
may I ask what Daily ATR(264) is ? thanks
@SamHuynh, ATR stands for Average True Range, it is the average price change indicator, 264 is the count of the days of a year excluding weekends, so ATR(264) is the average of daily price change in the recent year, it reveal the range we can expect for a security.
+4 Reply
nguyendung37 ForecastCity
+1 Reply
ForecastCity nguyendung37
nguyendung37 nguyendung37
ATR(264) different SMA(264)? can i change it, isn't? thanks
+1 Reply
ForecastCity nguyendung37
@nguyendung37, If you read the educational pages on our site, you will learn more about ATR 264 my friend.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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
HE עברית
Home Stock Screener Forex Screener Crypto Screener 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