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LEO Shooting Star

avatar of @steemmillionaire
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@steemmillionaire
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1 min read

Hi everyone,

You don't need to be an expert to see in this graph that something is going to happen. Right?

What is a Shooting Star?

"A shooting star is a bearish candlestick with a long upper shadow, little or no lower shadow, and a small real body near the low of the day. It appears after an uptrend. Said differently, a shooting star is a type of candlestick that forms when a security opens, advances significantly, but then closes the day near the open again" - www.investopedia.com

Exactly we had seen now on the LEO graph:

Shooting Stars indicate a potential reversal of a price advance. What is important is what happens after. If the high of the next candle stay below the high of the shooting star and then proceed to close below the close of the shooting star, this is the moment where traders may look to sell.

The long upper shadow indicates investors that are in a loosing position. They bought high during the day, but then the price dropped bellow the starting point. And such a long shadow that we see here, I have never seen on the stock exchange.

I adapted my order, and lets see now the the market doing it's things...

See you soon!

Posted Using LeoFinance Beta