#2: Shooting Star Candlestick Pattern(Bearish Pin Bar)
Don’t get confused…a shooting star is a bearish pin bar (or a bearish pin bar is a shooting star) as long as this candlestick forms in an uptrend.
A shooting star is a single candlestick pattern and the thing that makes this candlestick the most easiest of all reversal candlesticks to identify is this: it looks like a pin as shown below.
Where Shooting Star /Pin Bar Patterns Form On A Chart
Look for shooting stars/bearish pin bars on:
- resistance levels
- downward trendline touches
- fib retracement levels
- or a confluence of any of the above.