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NO:04
Type: Shooting Star #Bearish
1. Uptrend: Shooting star appears in an uptrend, signaling a potential reversal.
2. Small Real Body: Shooting star has a small real body, indicating close open and close prices.
3. Long Upper Shadow: Shooting star has a long upper shadow, extending above the real body.
4. Little or No Lower Shadow: Shooting star has a small or no lower shadow.
5. Previous Trend: Shooting star follows a sustained upward movement or uptrend.
6. Confirmation: Wait for subsequent downward price action to confirm the reversal.
7. Volume: Higher-than-average volume during the shooting star formation adds validity.
