Date: 24-Oct-2026
Shooting Star Candlestick
The Shooting Star is a potential bearish reversal candlestick pattern that appears after an uptrend. It suggests that buyers pushed the stock price higher during the session, but sellers forced the price back down near its opening level. It can indicate that upward momentum is weakening, particularly when the candle forms near a resistance zone.
Characteristics
- Long upper shadow: Ideally, at least twice the length of the real body.
- Small real body: Located near the bottom of the candle’s range.
- Small or no lower shadow.
- Prior uptrend: The pattern is most meaningful after a sustained price rise.
A red Shooting Star is often viewed as more bearish, but a green one can also be valid. The candle’s location and subsequent price action matter more than its colour.
Criteria to find right Shooting Star:
Shooting star can be found in any place in the candlestick chart. but it’s valid and show downtrend when following criteria may mach:
- It will formed after a uptrend, there should be 5 or more uptrend candle bar or at least 15% up.
- Shooting Star candle should be open with gap-up
- Color doesn’t matter for Shooting Star. it can be red or green
- Next confirmation candle is not require as mentioned in Hanging Man case
- Set sell order on closing price of Shooting Star or little up- depend on loss estimation
- Set Stop loss at high of the Shooting Star, and will set after next candle closed
- If next candle closed above the high of the Shooing star. Then exit the trade.
Disclaimer: The information provided here is for educational and informational purposes only and should not be construed as financial, investment, or legal advice. Always do your own research and consult with a SEBI-registered financial advisor before making any investment decisions. Investments in the financial markets are subject to risks, including the risk of loss of principal.
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