A Shooting Star is a single-candle bearish reversal pattern that forms when a security opens, rallies significantly intraday, but then retreats sharply to close near its opening price leaving a long upper wick and a very small body near the bottom of the session's range. The pattern suggests that buyers initially pushed the price higher but were overwhelmed by sellers before the close, indicating fading bullish momentum. A Shooting Star is most meaningful when it appears at the top of an uptrend, after a series of higher closes. The longer the upper wick relative to the body, the stronger the reversal signal. Traders typically wait for a bearish confirmation candle on the following session before initiating short positions.
For android only
