Candle Body
Upside down Hanging Man. The Open, Close, and Low of the Candle Body are approximately at the same price level.
Candle Wick / Shadow
A long wick that extends higher above and twice as long or more than the candle body.
Candle Colors
The Shooting Star can form on both green and red bodies. The Red Candle is significantly stronger as the close time frame occurs at the candle’s bottom. Strong Momentum signal.
Modus Operandi
Shooting Stars usually signal a top-of-a-price movement as well as price reversal in uptrends. However, Shooting Stars should first be confirmed with the confluence with trendline breaks or another confirmation of a candle. Shooting Stars occur in all time frames.
Fun Fact
Shooting Stars are often used with confluence to identify “bull traps” in the market.
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