Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

How To Find And Use Shooting Star Candlestick Pattern

23 Aug 2024 · 1 min

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1:17

In this instructional video, Vladimir Ribakov explains how to identify a bearish shooting star candlestick pattern and why it signals a potential market reversal. He describes the visual criteria—a small real body with a long upper wick that appears at the end of an uptrend—and notes that a red (bearish) shooting star provides a stronger signal than a green one. Ribakov interprets the pattern as an early warning that buyers are losing control and sellers may take over, leading to a correction, reversal, or full trend change. He demonstrates the pattern on two real‑world charts: the EUR/AUD daily chart, where a rally ends with a red shooting star, and the EUR/NZD 4‑hour chart, showing an upper‑wicked candle after an uptrend. The tutorial emphasizes the ease of spotting the pattern and its practical trading implications.

Chapters

How to find a bearish shooting star candle pattern? This is how it looks like. They could be both colors. However, a red shooting star at the end of an uptrend would give more accurate indication and signal. Let's take a look on the charts. Shooting stars will generally appear at the end of an uptrend. Very easy to find. Small body, big upper wick at the end of an uptrend. Would be a shooting star. This is initial sign that the buyer's grip control is coming to the end potentially, and sellers might take the control from here and create correction, reversal, or full trend change. EUR/AUD daily chart, first example. Great rally, up move. At the end of the rally, shooting star. Small red candle body, big wick on the upper part of the candle. Sellers are taking control from here. Euro New Zealand 4-hour chart uptrend, empty spike or fake spike, and with an upper wick, smaller lower body. You can see also the previous green candle indicates the same thing, and sellers are taking control from here.