What is a shooting star Candlestick?

The shooting star candlestick is a chart formation consisting of a candlestick with a small real body, and a large upper shadow. This pattern represents a potential reversal in an uptrend. It is also one of the four types of stars in candle theory: morning, evening, doji, and shooting. How Does a Shooting Star Candlestick Work?

What are candlestick patterns & how do they work?

Patterns are separated into two categories, bullish and bearish. Bullish patterns indicate that the price is likely to rise, while bearish patterns indicate that the price is likely to fall. No pattern works all the time, as candlestick patterns represent tendencies in price movement, not guarantees.

What is a daily Candlestick?

Just like a bar chart, a daily candlestick shows the market's open, high, low, and close prices for the day. The candlestick has a wide part called the "real body." This real body represents the price range between the open and close of that day's trading.

What is a hammer candlestick pattern?

It is a bearish pattern that indicates an upcoming downtrend. Hammer Candlestick: This candlestick pattern has a short upper shadow, and a long lower shadow, with the candle’s body being closer to the higher point. They appear after a long period of a downtrend. It is a price trend reversal pattern.