| You only need to know 15. You don't have to spend | | | | Your eye will spot it on the charts in an instant. In |
| late hours or drudge time to memorize all of the | | | | candlestick analysis, the Shooting Star is considered |
| known candlestick chart patterns. You can learn the | | | | to be a bearish signal. If prices do in fact close lower |
| most important 15 in a hurry. It's not difficult at all. | | | | on the day after the Shooting Star appears, its |
| You will learn very quickly that you will recognize | | | | bearish connotation is amplified. |
| them on sight, and searching for them can become a | | | | The same pattern (in reverse) can appear at the end |
| very interesting quest, and even a game, especially if | | | | of a long downtrend, too; but in this case it's not a |
| more than one person is nearby. | | | | Shooting Star, it's a Hammer. It is given the name |
| It is important to remember that the most useful | | | | "Hammer" because it shows that the Bears tried to |
| aspect of the candlesticks is their ability to help you | | | | drive prices down, but when all was said and done |
| unearth reversals of trend, as they are occurring or | | | | they failed, and prices closed somewhere close to |
| as they are about to emerge. With that thought, you | | | | their opening, near the very top of the pattern. As |
| need only to focus on the top 15 or so - the | | | | you might imagine, the connotation of the Hammer is |
| powerhouses which are most prevalent and which | | | | very bullish. |
| have the best record in terms of predictive accuracy. | | | | There is nothing mysterious, or time-consuming, or |
| My own personal favorite candlestick chart pattern is | | | | difficult in learning the 15 or so key candlestick chart |
| the "Shooting Star," probably because it looks like a | | | | patterns. You will come to understand them quickly |
| shooting star: located up there in the sky above the | | | | and naturally. It's actually fun. Once you learn them, |
| surface of the world, heading down straight toward | | | | you'll never forget; just as you could climb aboard a |
| us, with a bright bulb at the head of it and a long tail | | | | two-wheeler today and ride off on it, even though |
| following along. The Shooting Star can only occur | | | | you may not have ridden a bike in years and years. |
| after a time (preferably a long time) of rising prices. | | | | |