⭐ Understanding the Shooting Star Candlestick Pattern
🔍 What is a Shooting Star?
The Shooting Star is a bearish reversal candlestick pattern that forms after an uptrend.
It looks like a star falling from the sky – long tail (wick) on top and a small body at the bottom.
🕯️ How the Candle Looks:
Part Description
•Upper Wick (Shadow) Long – shows price went up high during the day.
•Body Small, near the bottom of the candle – can be red or green.
•Lower Wick Very small or none at all.
Imagine this:
🔺 Price tried to go much higher but failed, and sellers pulled it down before the candle closed.
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📈 ➡️ 📉 What it Tells You:
•Appears after a price increase or uptrend.
•Shows buyers tried to push the price up ⬆️, but sellers took control and dragged it down ⬇️.
•This signals weakness from buyers and a possible reversal downward.
✅ Beginner Tips:
•Use it after an uptrend, not in sideways movement.
•Best when it appears near resistance levels.
•Wait for next candle to confirm – a strong red candle after it = higher chance of a trend reversal.
•Combine with other tools (like volume or RSI) for stronger signals.
📊 Simple Example:
•Let’s say Ethereum has been rising for a few days.
Then today:
•It opens low, goes way up (buyers excited),
•But then falls back down, and closes near the open price (sellers stepped in).
•That’s a Shooting Star – the market might be about to fall. 🚨
