$XLM
How do the Hanging Man and Shooting Star Candlestick Patterns Express a Bearish Market? ๐๐ - Lesson 5
Bearish markets have distinct candlestick patterns, including the Hanging Man and Shooting Star. ๐
- Hanging Man Pattern : The Hanging Man has a red candlestick with a thick top, indicating potential stagnation after a bullish market. ๐ This pattern suggests that the market may be losing momentum โฑ๏ธ
- Shooting Star Pattern : The Shooting Star has a red color at the bottom and warns of a prevailing downward trend movement. ๐ This pattern indicates that sellers are gaining control, and the price may continue to decline. ๐
However, as a trader, relying solely on candlesticks or line charts is not enough. ๐ There are other indicators and techniques that can help you capture the trend during a specific period. ๐ These tools can provide valuable insights and help you make more informed trading decisions