Shooting Star Candle Strategy
The shooting star candle strategy is a very simple but very effective methodology to trade the financial markets. You can trade stocks, Forex, currencies, commodities, futures and even cryptocurrencies across various time frames.
The kinds of trade setup we’re going to propose through this reversal trading strategy have an astonishing...
Entry was at 50% if it comes again you can reenter
this is a swing trade on the daily time frame
3 seperate tps you may secure partials at each level
or 3 separate positions 3 tps
this is a trade idea take at your own risk.
D1: Uptrend (orange lines all refer to D1)
4H: Uptrend (blue lines all refer to 4H)
As you can see we already have hit our tested Resistance level
Which is also a whole number level (red dotted line)
So from here we have a sell opportunity
On lower timeframes you can see a lot of dojis/shooting stars etc...
So we sell (counter-trending) and set our T/P in...
Apple rejected gap with a bearish shooting star. That's short-term bearish. If further confirmed today, we could observe an evening star pattern. Close >202.25 neutralizes short view, and resumes the broader bull trend.
HKEX:3306 is in a forth wave of a impulse, which is a classic triangles correction with the volume decrease at the end. The direction should be cleared soon and we expected the direct will go up because recently it can stand with volume above the shooting star (red line). For the target of this trade, as we are not sure if it is the third wave or the final wave of...
- As we can see there is a strong move from the sellers on the pair, you see that with the strong candles at two different spots
- With that, the pair formed two Tops, defined at the first level of moving averages ( level 30 ),not trespassing the level 50, creating some resistence levels.
- We could see too that the moving averages are leveled, and parallel,...
Más claro, chorizo pamplona.
The shooting star is a bearish reversal pattern that looks identical to the inverted hammer but occurs when price has been rising.
Its shape indicates that the price opened at its low, rallied, but pulled back to the bottom.
This means that buyers attempted to push the price up, but sellers came in and overpowered them. This is a...
The ASX has formed a shooting star on the weekly candles.
We are now awaiting confirmation, this weeks candle will need to decline and close below last weeks candle.
We can then look for targets of 6100 and 6000.
Chart says all. Let's get confirmation with a nice juicy red Bear Engulfing Doji. Sand P pivoted EXACTLY at 0.786 on 2812 today- fantastic!
Pos: Shorted QQQ, Long TECS. Not investment advice, trade at your own risk, but it's where I placed my bets.
Gaps tend to get filled, if gap up fills by gap down, we get island reversal with a graveyard... We at the end of...
- On the 20/02/2019 The Conference Board leading index forecasted an expansion on the Australian economy. This leads to a slight long bias on AUD.
- The Logikfx score also shows a strong reading at 20, increasing from 0 earlier in the week. This strength shift indicates a potential change in cash flow to the Aussie economy.
- on the...
What's coin on guys?
Daily candle closed as a shooting star, and that is indicating that bears have responded with great volume. We might see a stronger pullback in the next few days, but, anything is possible as always...
After the strong up move that lasted for quite a while without any significant pullbacks, the shooting star pattern appeared in the "grey area" of assumed resistance.
1)Going short with my Stop loss over the high of the shooting star.
2)The profit target is based on the assumed 50% correction and technical structure.
Tried to add to my position to get a better entry price as the market was approaching my stop loss.
1)Stop loss is above shooting star high.
2)Profit target is around the main position target (recent technical structure)
(posted post factum)
Due to the macro its risk on, this is why its time to short gold, on the weekly it has formed a bear shooting star on resistance, covering the past two candles as well. On the Daily MACD has confirmed to the down side, target could be 1260 :)