Shooting Star candlestick pattern
A shooting star has a small body at the bottom and a long upper wick. It appears after a rise and shows that buyers pushed price up but sellers rejected it.
How to spot a Shooting Star
- A small body near the low of the candle.
- An upper wick at least about twice the body.
- Little or no lower wick.
- It forms after an advance.
Memory tip: Long tail on top, and it shows up after prices rose.
What it usually means
Price spiked up and was rejected, closing back near where it opened. That rejection at the highs can mark a possible top.
What traders wait for
Traders usually wait for the next candle to close below the shooting star's body, and look for it at resistance.
Common mistakes
- Calling any long upper wick a shooting star. It needs an advance before it and a small body.
- Shorting it with no stop. A failed shooting star can leave price running higher.
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Play Candlr freeQuestions people ask
What is a Shooting Star candlestick?
A shooting star has a small body at the bottom and a long upper wick. It appears after a rise and shows that buyers pushed price up but sellers rejected it.
How do you spot a Shooting Star?
A small body near the low of the candle. An upper wick at least about twice the body. Little or no lower wick. It forms after an advance.
Is a Shooting Star bullish or bearish?
It is usually read as bearish (a possible move down). Price spiked up and was rejected, closing back near where it opened. That rejection at the highs can mark a possible top.
Is a Shooting Star reliable on its own?
No pattern is a guarantee. Traders usually wait for the next candle to close below the shooting star's body, and look for it at resistance. Always decide your risk before you act, and treat patterns as clues, not predictions.
Related patterns
- Doji Open and close are almost equal, so buyers and sellers fought to a draw. It signals indecision.
- Hammer A small body with a long lower wick after a drop. Sellers pushed price down but buyers pulled it back up.
- Inverted Hammer A small body with a long upper wick after a drop. Buyers are starting to test higher prices.
- Hanging Man Looks exactly like a hammer, but it appears after a rise. Sellers managed a big dip, a warning sign.
Candlr is educational. Candlestick patterns describe what price did, they do not predict what it will do next, and nothing here is financial advice. Trading involves a high risk of loss.