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Shooting star ea forex trading

shooting star ea forex trading

reversal patterns. So, we need to filter out most bad signals with an additional trading indicator. Entry Unlike the bearish engulfing pattern, the standard entries typically will not work if you apply my proprietary filters to qualify your shooting star setups because the confirmation close filter changes the way you must take your entries with this particular pattern. At least for a short time. Hanging Man (on / off) - the Hanging Man pattern (enable/disable). First, I wanted to explain the proprietary techniques that Ive been using to trade this price action signal for the past few years, while still including the basic, standard shooting star techniques for those who arent interested in trading it the way I personally. It can readily appear in a bearish trend where the market is making a bullish correcting wave. However, the proprietary filters that I personally use to qualify a good shooting star are quite different, so lets go over those now. Trading it from a consolidating (flat or sideways) market or even a tight range will not work.

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The pattern can be traded in either bearish or bullish trends. Without confidence, nothing will work. In my experience, I have not had much luck trading them on time frames lower than the 15 Minute chart. I originally wrote this article back in 2012, and the method that I use recensioni to trade the shooting star is much different now. Instead, I prefer to combine them with another trading system that is profitable on its own.