The pattern that we will discuss this time is the Shooting Star Candle. We can briefly describe it as a bearish candlestick that has a long upper shadow, and absolutely no bottom shadow. From the bearish candlestick, when is the right time to use it?

Of the many patterns of trading that we have discussed, on this occasion, we will start with a discussion of shooting star pin bars, commonly known as shooting star candlesticks. You need to start by understanding the pattern first.

If people are new to the term shooting star, then the first thing that will appear in their brain is the star that is coming down to earth. But for professional forex traders, this shooting star can be seen as an opportunity for profit.

You will notice this shooting star when there is a long upward shadow, but no lower shadow left. Usually, there is a bearish phase and will appear after the upward movement period. So, this can be your basic guide.

Bulls or Bears Control the Shooting Star Candle?

Again, what will definitely be asked is who is in charge or in control in this one pattern system. But once you hit the bulls, then this is the start of the bulls. So it is this bullishness that drives the price to a new high level, as well as being the starting point for the candle.

For example, when at the best forex broker you see a plummet price condition, a substantial climbing position will be initiated, even though the price will not decrease in the next term. In short, just buy it when there is a shooting star candle sign.

This one candle indicates that there is already a secured resistance area, and this is no longer a false indication. In addition, this candle will also make the price rise significantly to make it a moment of buying pressure. This pressure makes the price back to the top.

Towards the period leading to the peak of the price, then this moment can be used as a time for you to sell it. Traders may decide to sell all of those assets or sell short. The range of it will be varied, but the shooting star candle will give the trader a sense of security.

So, so that it is easy for you to remember, always be aware that the first step is to determine the flow indicator at a certain time. Then when there is a strong bullish trend, this candle will appear. Wait a while, and sell when it rises.

When to Use Shooting Star Candle?

Traders might directly ask when to use this pattern. Everyone will be aware of that so we have prepared some key takeaways that should be planted in every trader's mind. The first is during trade entry, and make sure it's already in a bullish condition first.

See if there is a bullish trend before using a shooting star candle can have an effect such as a near future price move. Look at the bottom point which is shorter than the upper. Then immediately stop loss when there is no bottom shadow candle.

In this way, you will immediately get a profit. But it would be even better if you already know what you need to do, namely using the Didimax forex broker. That one broker is the best with all the offers it has to offer useful traders.

Becoming a trader is the same as learning a lot of new things. Including trends and patterns. Unfortunately, this is something that is often overlooked. In fact, if you already know shooting star candles, it will no longer be difficult to achieve the profit you have always wanted.