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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.

Main rules of trading in financial markets

  1. 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.
  2. 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).
  3. 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.
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What is Intraday Forecasts Service 

The Intraday forecast service is a service that helps you trading in the next 24 hours.
The intraday forecasts of ForecastCity will show you the most accurate and the most likely movements and swings of the market. 
One of our advantages is that the Intraday Forecast service is available before all the same websites and in the first hours of the day. That makes ForecastCity the first forecast provider that forecasts tomorrow.