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Shooting star pattern: trading strategy

  • The shooting star candlestick pattern is a powerful tool in technical analysis used to identify potential reversal points in an uptrend.
  • It is characterized by a small real body with a long upper shadow and little to no lower shadow.
  • The shooting star pattern indicates a struggle between buyers and sellers, signaling a possible trend reversal.
  • To maximize reliability, traders can integrate the shooting star pattern with other tools and practice disciplined risk management.

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