Shooting Star
Overview
The shooting star is a bearish reversal candle with a small body near the low and a long upper shadow (at least 2× the body). It appears at the top of uptrends and signals that buyers pushed price higher but sellers took control. It is the inverted version of the hammer.
Key Concepts
Long upper shadow (2× body minimum), Small real body near the session's low, Appears after an uptrend, Gap up opening adds strength (rare in 24h markets)
Entry Signals
Shooting star at resistance with high volume, Next candle closes below the shooting star's body, Bearish divergence on RSI/MACD, Prior uptrend of at least 5+ candles
Exit Signals
Stop above the shooting star's high, Target the prior swing low, Use trailing stop if the downtrend develops
Best Timeframes
4H, Daily, Weekly
Pro Tips
A shooting star that tests and rejects a key moving average (20 EMA, 50 SMA) or Fibonacci level is significantly more reliable.
More Topics in This Category
Continuation Triangles
While not strictly a candlestick pattern, continuation triangles (ascending, descending, symmetrical) are multi-candle patterns where price contracts between converging trendlines. Breakouts from triangles tend to continue the prior trend. Triangles are measured-move patterns — the target equals the height of the triangle projected from the breakout point.
Pin Bar Setups
Pin bars are single-candle reversal patterns with a long tail (shadow) on one side and a small body on the opposite side. The tail shows a sharp rejection of a price level. Pin bars are the most widely used price action signal among naked chart traders and work on all markets and timeframes.
Piercing Line & Dark Cloud Cover
The piercing line is a two-candle bullish reversal pattern where a down candle is followed by an up candle that opens below the prior low and closes above the midpoint of the prior body. The dark cloud cover is its bearish counterpart — an up candle followed by a down candle that opens above the prior high and closes below the midpoint. Both patterns signal a potential shift in sentiment when they appear at key support or resistance levels.
Abandoned Baby Pattern
The abandoned baby is a rare three-candle reversal pattern considered one of the most reliable candlestick signals. It forms when a doji gaps away from the preceding candle and the following candle gaps in the opposite direction, leaving the doji isolated with gaps on both sides. The pattern indicates a dramatic shift in market sentiment where momentum completely reverses between sessions.