A small body near the low of the range with a long upper wick, appearing after a rally. Buyers lost control of a push higher and price was sold back down.
How to identify it
- Forms after an up move or into resistance
- Upper wick at least twice the body length
- Body sits in the lower third with little lower wick
Entry
Sell a break below the shooting star low.
Stop loss
Just above the wick high.
Target
The nearest swing low or a 2R objective.
Invalidation
A close above the shooting star high.
Does it work for you?
Textbook reliability means little until you know your own numbers. Tag your shooting star trades in TradeZento and it shows your win rate, average win and loss, and P&L per trade for this pattern, so you know whether to keep it in your playbook.