Shooting Star candlestick pattern

Shooting Star Candlestick pattern criteria

1. Found at the top of an uptrend.

2. It has a small body with an upper shadow. The upper shadow is at least twice as tall as the body.

3. The color of the body is not important (a red body is slightly more bearish than a blue body).

4. There should be no lower shadow or a very small lower shadow.

5. The following candle should be strongly bearish to confirm the reversal.

6. The longer the upper shadow the higher potential for a reversal to occur.

Shooting Star candlestick pattern

Shooting Star candlestick pattern