The Shooting star is a one day potential trend reversal pattern.
It usually occurs after an uptrend.
Shooting star has a small real body at the bottom of the candlestick with a long upper shadow and little to no lower shadow. Real body can be either bullish or bearish. Shooting star is usually preceded by bullish candlestick
Psychology of shooting star pattern is that following an uptrend, bulls open the day with a gap up from earlier days close and continue to push prices up. However bears are able to push down prices to be close to the start of the day.
This pattern is also called a bearish inverted hammer.
Practice Shooting Star – Beginner
Practice Shooting Star – Intermediate
Practice Shooting Star – Advanced
Practice Shooting Star – Expert