Shooting Star Candlestick Pattern Explained: Meaning & Importance

[{ "selector": ".kiaqd-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateX(calc(360px - 291px)) scale(0.15)", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateX(0px) scale(1)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".jzciq-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

What is the Shooting Star Pattern?

The Shooting Star is a single-candle bearish reversal pattern that appears at the top of an uptrend, indicating potential weakness in bullish momentum

[{ "selector": ".lrfff-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(-15px)", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".uxkbd-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 550px))", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1", "visibility" :"visible"} ] }]

Candle Formation – Price Rejection at Higher Levels

The candle has a small body near the lower end with a long upper shadow, showing that buyers pushed prices higher but failed to maintain control

[{ "selector": ".inixi-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(-15px)", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".igdoz-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 550px))", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1", "visibility" :"visible"} ] }]

Market Psychology Behind the Pattern

The strong upward price movement during the session attracts buyers, but selling pressure emerges near the peak, signalling possible trend reversal

[{ "selector": ".ggnoa-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(-15px)", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".rmfkp-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 550px))", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1", "visibility" :"visible"} ] }] Click Here

How Reliable Is It?

The Shooting Star is considered a moderately reliable bearish signal, especially when it forms near resistance levels or after a strong uptrend

[{ "selector": ".xiqbs-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(-15px)", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".cilbg-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 550px))", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1", "visibility" :"visible"} ] }]

Confirmation & Volume

Traders usually wait for the next candle to close below the Shooting Star’s low. Increased trading volume often strengthens the reversal signal

[{ "selector": ".nwbtw-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(-15px)", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".iloez-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 550px))", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1", "visibility" :"visible"} ] }]

With Our Subscription Plans

[{ "selector": ".sbjue-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".fxrwe-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".kzszx-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateX(-299px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".wlejd-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(-33px)", "opacity": "1", "visibility" :"visible"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1", "visibility" :"visible"} ] }] Open Demat A/C

Shooting Star Candlestick Pattern Explained: Meaning & Importance

What is the Shooting Star Pattern?The Shooting Star is a single-candle bearish reversal pattern that appears at the top of an uptrend, indicating potential weakness in bullish momentum

Candle Formation – Price Rejection at Higher Levels The candle has a small body near the lower end with a long upper shadow, showing that buyers pushed prices higher but failed to maintain control

Market Psychology Behind the PatternThe strong upward price movement during the session attracts buyers, but selling pressure emerges near the peak, signalling possible trend reversal

How Reliable Is It?The Shooting Star is considered a moderately reliable bearish signal, especially when it forms near resistance levels or after a strong uptrend

Confirmation & VolumeTraders usually wait for the next candle to close below the Shooting Star’s low. Increased trading volume often strengthens the reversal signal