The Shooting Star Candlestick Pattern

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 ### The Shooting Star Candlestick Pattern #### Description The Shooting Star is a bearish reversal candlestick pattern that typically appears at the top of an uptrend. It is characterized by a small real body near the lower end of the trading range, a long upper wick (shadow), and little or no lower wick. The long upper wick indicates that the market opened, rallied significantly, but then gave up most of the gains to close near the opening price. #### Characteristics - **Small Real Body**: Indicates minimal difference between the opening and closing prices. - **Long Upper Wick**: Reflects strong upward movement that was not sustained. - **Short or Absent Lower Wick**: Suggests limited lower price movement during the period. #### Significance The Shooting Star pattern signals that buyers initially drove prices higher, but sellers regained control, pushing prices back down. This shift in momentum from bullish to bearish suggests a potential reversal from an uptrend to a downtrend. ...
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The "Elder's Triple Screen" strategy For (Professional)

 The "Elder's Triple Screen" strategy

Trader level (Professional)

Type of strategy (Trend)

Timeframe (5-300 m)

Assets to trade (Currency pairs, Cryptocurrency, Indices )


Financial market players use many trading strategies and tactics. Elder's Triple Screen is one of the most effective, user-friendly, and professional trading techniques.
By using this system, you will always be trading in the direction of the main market trend and spot the best timing to make trades!

The key principle of the Triple Screen

The advantage that makes this strategy different from others is reliance on several time frames at a time for price analysis.
• You use the highest time frame (15M) to analyse the global trend to make trades only in its direction.
• You use the medium time frame (5M) to spot the beginning of new up and down waves.
• The lowest time frame (1M) is used for entering into profitable trades.

Step 1: Plotting indicators

Choose any trading asset available on the platform.

Plot MACD with default settings.
We will look at it on the 15M time frame to identify the main market trend.

The _Elder's Triple Screen__en1.png

Add RSI with default settings and change its overbought/oversold levels to 50/50.
We will look at it on the 5M time frame to spot the start of new up and down waves.

The _Elder's Triple Screen__en2.png

Add Fractals and set the period to 7 or even 11.
We will look at it on the 1M time frame to see local lows and highs of the price.

The _Elder's Triple Screen__en3.png

Step 2: Looking at the indicators and waiting for signals to enter into a trade

We switch the chart to TF 15M and look at MACD.
• If the histogram bars of the indicator are located above the zero level of the scale, the market is in an uptrend, and trades can only be made up
• If the histogram bars of the indicator are located below the zero level of the scale, the market is in a downtrend, and trades can only be made down

The _Elder's Triple Screen__en4.png

We switch the chart to TF 5M and look at RSI.
• If the RSI line crosses 50 up, an uptrend wave has begun
• If the RSI line crosses 50 down, a downtrend wave has begun

The _Elder's Triple Screen__en5.png

We switch the chart to TF 1M.
This is the TF we will be making trades on. We only focus on Fractals.

The _Elder's Triple Screen__en6.png

Step 3: Making trades on the Triple Screen strategy

Trades DOWN are made on TF 1M when:

  • On the 15M time frame, the MACD histogram bars are below the zero level

The _Elder's Triple Screen__en7.png

  • On the 5M time frame, the RSI line has crossed level 50 down.

The _Elder's Triple Screen__en7 3.png

  • On the 1M time frame, we make a trade DOWN, if the asset price has broken (gone below) the last local low down. This low is shown by Fractals:

The _Elder's Triple Screen__en7 4.png

Trades UP are made on TF 1M when:

  • On the 15M time frame, the MACD histogram bars are above the zero level

The _Elder's Triple Screen__en8.png

  • On the 5M time frame, the RSI line has crossed level 50 up.

The _Elder's Triple Screen__en8 3.png

  • On the 1M time frame, we make a trade UP, if the asset price has broken (gone above) the last local high up. This high is shown by Fractals:

The _Elder's Triple Screen__en8 4.png

Make trades of 3 to 10 minutes, depending on your asset and market volatility.
The asset should have enough time for its price to cover the distance required to close the trade at a profit.
Use up to 3% of your trading account in trading.

NOTE! Elder's Triple Screen is a trend-following strategy. So it is valid when you trade during the most volatile time of the day, from 7:00 to 15:00 UTC.

Location: Poland

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