Shooting Star
A single-candle reversal pattern that forms after a rise, with a small body and a long upper wick. It shows price climbing clearly within the candle and falling back towards the close. It can suggest that the higher prices were not accepted.
How it forms
- It follows a clear rise. The same shape after a decline is called an inverted hammer.
- The upper wick is at least twice the length of the body.
- The lower wick is absent or very short: no more than about a tenth of the candle's full range (high to low).
- The body is small and sits in the lower third of the range. Its colour does not change the rule; a red body is considered slightly stronger.
What it suggests
After the open, buyers carry price to a new high. Towards the close, sellers step in and push it back near the opening level. The long upper wick can show that buyers could not be found at the higher prices.
In an uptrend, candles usually close near their highs. A shooting star closes near its low. This is a hint that buying pressure may be starting to fade. The next candle closing below the shooting star's body is considered a confirmation that supports this reading.
When it strengthens, when it weakens
Strengthens
- Forming at a resistance zone
- A clear rise before the pattern
- An upper wick that is very long relative to the body
- High volume
- The next candle closing below the shooting star's body
- Forming on a higher timeframe (4H, 1D)
Weakens
- Forming in a flat, directionless market
- A noticeable lower wick
- A strong support zone just below
- The next candle heading back towards the shooting star's high
- Forming on very low timeframes (1m, 5m)
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How it relates to zones
A shooting star means most at a resistance zone. The long upper wick shows price reaching into the zone, or briefly above it, while the body closes below it. This can be read as the attempt to clear the zone being rejected on that candle.
The close is what decides it. If the body closes above the zone, the zone may have been cleared even with a long upper wick. The picture is then a breakout attempt, not a rejection. The tip of the wick gives a concrete reference for the zone's upper edge.
The first support zone below the shooting star matters too. If support is very close, there is little room for a decline and the pattern is considered weaker.
When it is invalidated
If price closes above the shooting star's highest point (the tip of the upper wick), the bearish scenario is considered invalid. It means the prices the wick rejected are now being accepted.
If the shooting star formed at a resistance zone, a close above the zone means the same.
Often confused with
- Inverted HammerSame shape, different context: it forms after a decline and is read as bullish.
- Hanging ManThe other single candle after a rise: the wick is at the bottom and the body at the top.
- Pin BarA broader term for any long-wick rejection candle. A shooting star is the upper-wick one after a rise.
For general information only. Not investment advice.Last updated: