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*Bearish Japanese Candlestick Patterns* No. 2 👇
2 - The Shooting Star Candlestick
This pattern is a candle in which the price has declined. Its upper shadow is very large compared to its lower shadow, and it is preferable that the lower shadow is absent at all. The candle body is small compared to its upper shadow, and the price must have declined. This means that the open is higher than the close, as shown in the image:
This candle only occurs after an uptrend. If it occurs during an uptrend, it is weak. If it appears after a downtrend, it may be an imperfect inverted hammer pattern. It is best not to use this pattern except after uptrends.
