Yummy Profit Wiki
  • Yummy Profit Intro
  • General FAQ
  • Join our community
  • GETTING STARTED
    • 💡Start exploring
    • 🗝️Quick start
  • ✨HOW TO USE?
    • Setup indicator alerts
      • Mobile notifications
      • Telegram alert
    • Indicator Market Scanner
    • Indicator Analysis Summary
  • 🚨INDICATOR & TRADING STRATEGY
    • What's technical indicator?
    • Trend following
      • Moving Average (MA)
      • Exponential Moving Average (EMA)
      • MACD
      • Fibonacci Level
    • Momentum
      • Ichimoku Cloud
      • Relative Strength Index (RSI)
      • Stochastics RSI
      • Commodity Channel Index (CCI)
    • Volatility
      • Bollinger Bands (BB)
      • Super Trend (ATR)
    • Price Action
      • Doji
      • Spinning Top
      • Marubozu
      • Shooting Star
      • Inside bar & Pin bar
      • Hammer & Hanging Man
      • Morning Star & Evening Star
      • Bullish engulfing & Bearish engulfing
      • Tweezer bottom & Tweezer top
    • Trading Strategy (Advance)
      • MACD divergences
      • RSI divergences
      • Stochastics RSI divergences
  • 💸PRICING
    • Free User
    • Premium User
  • Website
  • Contact Admin
Powered by GitBook
On this page

Was this helpful?

  1. INDICATOR & TRADING STRATEGY
  2. Price Action

Shooting Star

PreviousMarubozuNextInside bar & Pin bar

Last updated 3 years ago

Was this helpful?

Shooting Star is a single bearish reversal candlestick pattern, appearing in an uptrend.

Shooting Star identification:

  • The lower shadow is absent or very short.

  • The body of the candle is small, it can be a bullish candle or a bearish candle.

  • The upper shadow is 2 to 3 times longer than the body of the candle.

Meaning of Shooting Star:

  • When the market opened, the buyers took control and pushed the price higher.

  • At the peak of the buyers (at the highest price), huge selling pressure appeared and pushed the price down.

  • The selling pressure was so strong that the closing price was close to the opening price (lower shadow absent or very short).

In summary, the Shooting Star shows a rejection of higher prices and the bears have the upper hand over the bulls.

🚨
Follow the Price Action tradingview script