The opposite of a "shooting star" candlestick pattern is an "inverted hammer" - both look similar but indicate opposite market reversals, with a shooting star signaling a potential bearish reversal in an uptrend, while an inverted hammer suggests a bullish reversal in a downtrend.
Key points about the difference:
Trend Direction:
A shooting star appears at the top of an uptrend, while an inverted hammer forms at the bottom of a downtrend.
Reversal Signal:
A shooting star indicates sellers gaining control, potentially reversing the upward trend, whereas an inverted hammer signifies buyers gaining control, potentially reversing the downward trend.
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