Shooting star
Long upper wick, small body at the bottom
What it is
The hammer inverted: a small body near the low with an upper wick at least twice its length. Price was bid well up and then rejected back down.
What it may suggest
Buyers pushed higher and could not hold it. Into resistance this may suggest supply is sitting above.
Where it fails
Same failure mode as the hammer: common and unremarkable in a strong uptrend. Needs a level to mean anything. The identical shape after a decline is called an inverted hammer and is read the other way, so where it forms is what names it.
Also called shooting star candle.
More candlesticks
- Bullish engulfingAn up candle that swallows the previous down candle
- Bearish engulfingA down candle that swallows the previous up candle
- MarubozuFull body, almost no wicks: one-sided period
- Spinning topSmall body, wicks both sides
- Morning starDown candle, small pause, up candle
- Evening starUp candle, small pause, down candle
ChartPeak is an educational tool. It is not financial advice and does not make investment recommendations. Trading carries a risk of loss, and past performance does not indicate future results. Do your own research.
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