What Is The Shooting Star Candlestick Pattern & How To Trade With It

Shooting Star Candlestick Pattern

The Shooting Star Candlestick Pattern is a bearish reversal pattern. The candlestick comprises of one candle which has a long upper wick and little or no lower wick. What is the Shooting Star Candlestick Pattern? The Shooting Star appears in an uptrend and signifies a drop in price. When the price advances and shows a sudden drop, it leaves behind a long upper wick. This upper wick should be half of the length of the Shooting Star. Also, the upper wick represents the buyers who were in a strong position during the day, but now they may be losing control …READ MORE