Shooting Star
A bearish reversal candle after a rise: small body near the bottom and a long upper wick.
In plain English
A bearish reversal candle after a rise: small body near the bottom and a long upper wick.
A shooting star appears after an advance. Buyers drive price sharply higher during the period, but sellers smash it back down, so the candle closes near its open with a long upper shadow and a small body at the bottom. It looks like a star with a tail streaking across the sky.
The message: buyers tried, failed and got rejected. It hints that the rally may be fading, especially at resistance. Its upside-down cousin at the bottom of a fall is the inverted hammer.
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