Notices

Shooting star

From Traderpedia

Definition:
A bearish candlestick pattern consisting of a gap up, a strong advance then a close lower than the open.


A shooting star is a bearish pattern.

During an up trend the price gaps up on the open, advances well above the open price but closes lower than the open price. The distance between the highest price for the day and the opening price must be more than twice as large as the shooting star's real body. Finally, the distance between the lowest price for the day and the closing price must be very small or nonexistent. A shooting star often leads to reversal of the up trend.

image:shootingstar.jpg