Shooting Star is a bearish trend reversal candlestick pattern consisting of two candles.

How to Identify:

• The first candle is bullish and continues the uptrend;
• The second candle is short and gaps up from the first candle;
• The second candle has a long upper shadow and does not have the lower one.

  We use our proprietary data-mining algorithm to capture specific price movement and pattern performance.
  Under certain circumstances, a Bearish pattern can also perform as a Bullish pattern, and a reversal pattern can be changed into a continuation pattern.

  If you want to find out the performance of this pattern in real market, not in theory, our data mining results are your must have reference.

• ShootingStar Pattern data mining result (2014 Daily, bearish reversal)

• ShootingStar Pattern data mining result (2014 Daily, failed bearish reversal)

• ShootingStar Pattern data mining result (2014 weekly) 

  The following pictures are taken from our Candlestick Pattern Indicator (Thinorswim version).