A shooting star is a single- candle formation signaling a possible bearish reversal after an upward price move. It has a small body near the bottom of its range, no or very little lower wick, and a long upper shadow that indicates buyers drove the market higher but were eventually overpowered by sellers. The shooting star candlestick pattern is a one-bar bearish reversal Japanese candlestick pattern that historically leads to near-term volatility. The shooting star candlestick signals a trend reversal after an uptrend. Confirm with volume or bearish candles , trade cautiously, and use stop-loss to manage risk. The Shooting Star pattern is a useful candlestick signal for identifying potential trend reversals from bullish to bearish after an uptrend.It has a classic small body with a long upper wick and can be misunderstood easily for the Inverted Hammer pattern.
