A Shooting Star has a small body near the low and a long upper wick, forming after an uptrend. Buyers pushed price higher intraday but sellers rejected the advance and closed price back down, a classic sign of exhaustion.
How traders read it
- Treat it as a potential bearish reversal after a rally.
- A long upper wick with little lower wick strengthens the case.
- Confirm with a lower close on the next candle.
See it in dtcharts
Turn on candlestick pattern detection in the dtcharts terminal — every shooting star is marked on the chart with its historical reliability score, so you can judge how often it has actually played out.