Candlestick Spotlight – The Shooting Star Candle

There are literally so many different types of candlestick patterns out there in the market. This week however I wanted to highlight and spotlight the Shooting Star Candle. Defined by its look and character being like a literal shooting star, this particular candle is a nice price action candle to see at highs in the market.

Of course, you want also to confirm with good resistance or something similar ( Fibonacci, etc. )

Candle Type : Bearish

shootingstar candles

First of all I wanted say that the shooting star candle is a type of bearish Pin Bar. What makes it a shooting star however is that the open, low and close are all close together in its formation. Some traders like to say that there needs to be no little wick below and some others say otherwise.

It is a little bit left up to interpretation that one overall like all other candlesticks, however sometimes it is a little bit easier to just to say ‘Bearish Pin Bar’.

In the video above I Identify a few Shooting Star Candle formations on the chart. I also give my interpretation of its formation.

About Timon Weller

Timon Weller is the professional Writer and Trader behind the blog Forex Reviews. Timon Weller is also a professional Teacher of Price Action Trading and creator of the popular Training Series teaching people how to trade Price Action effectively called The Engulfing Trader. For other Forex Training available here at Forex Reviews click here.

For more on Timon Weller Click Here. To Learn more about How to Trade the Market and get updates Click Here.


  1. Hi Timon

    Great series with the engulfing trader, after I purchased the set the next day I took 380 pips on four deals in 12 hours.

    This latest web cast on candlestick patterns interest me and I am sure others, will you be following up the web cast with more patterns (those that really matter) as I am sure everyone will benefit massively from this.

    Also you mentioned you are looking to open a premium members area on your website could you please tell us a little more about that such as the content available and the cost involved in the service and when it will be launched.

    Keep up the great work Timon and I look forward to Saturdays webinar.

    Best regards

    Mark C

  2. Marcin L says:

    Hi Timon,
    I would like to say that I really enjoy your movies about trading. All informations are perfectly explained and showed with an example. That is what i need to better understand forex market as I am new trader, part time trader with only 3 months experience.
    I strongly recommend your website to everyone who is intrested in trading.
    You are doing a great job and thank you for that.
    P.S. Sorry for my writing mistakes.

    Marcin L.

  3. Thank you, another informative video.

  4. Steve Kaldi says:

    Excellent job again on explaining the nuances of these candles..

    Steve K
    Las Vegas

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