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Shooting Star Candlestick Pattern Definition
If there was a large rise in price in the middle of the day, but before the day ended it decreased to what it was at the beginning of the day and even less, a significant downward return occurred. The candlestick of this change (move) will be a "Shooting Star" in a daily time frame. A Shooting Star formation on the daily time frame is a very strong indication for a high probability of decreasing price in the next few days.
Hammer Candlestick Pattern Definition
If there was a large drop in price in the middle of the day, but before the day ended it increased to what it was at the beginning of the day and even more, a significant upward return occurred. The candlestick of this change (move) will be a "Hammer" in a daily time frame. A Hammer formation on the daily time frame is a very strong indication for a high probability of increasing price in the next few days.
What is Brent Crude Oil and how is it different from other kinds of oil like OPEC?
- First, identify the macro trends of the market and the probable reverse areas with the assistance of monthly and weekly time frames or more accurate daily frames. For this purpose, our Weekly Forecasts can be helpful.
- Second, in the daily time frame, select the charts which show you one of the main forecasting models of tomorrow’s market direction. To increase speed and accuracy, Daily Trading Opportunities Service identifies these kinds of charts. Please carefully choose the ones which are in the direction of the macro trends of market or in the probable reverse areas (as mentioned in the first rule).
- Finally, in the 1 hour and 30 minute time frames, find enter and exit places considering the support and resistance lines. Our Intraday Forecasts Service, which report some of the popular charts, can help you increase your accuracy.
How to use “Intraday Forecasts”
If you would like to trade in the next 24 hours, the intraday forecasts of Forecast City will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of Forecast City’s glorious and positive qualities.