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Binary Signal Pattern 10

Shooting Star

The shooting star candlestick pattern is a major bearish reversal signal that often appears at the end of an uptrend. The shooting star candlestick pattern is also known as the bearish pinbar. The shooting star consists a small real body in the lower part of the candlestick with a very long upper shadow and little or no lower shadow and it looks quite similar to the inverted hammer. It is formed when the stock price is pushed higher and immediately rejected lower so therefore it leaves behind a long wick to the upside. The Shooting Star is a reversal pattern used to identify the beginning of a fresh bearish trend.