Shooting Star in GBP/USD

Discussion in 'Forex Trading' started by DannyBly1, Sep 23, 2012.

  1. Looking at the daily chart a bearish shooting star pattern formed on Friday:

    [​IMG]

    Zooming out we can see some major trendlines that could form support:

    [​IMG]

    Also worth noting that MACD crossed the zero line from positive to negative...
     
  2. A nice one too. Where would you place the stop on that short?

    I would place it just above the high of red candle 2 days ago.
     
  3. Agreed, just above Friday's high...
     
  4. Lucrum

    Lucrum

    It would appear so.


    Uh...not so noteworthy.
     
  5. What's your target on this trade?