Pattern Detail

Bearish Shooting Star

Single-candle bearish reversal after a rally: a small body with a long upper wick where buyers were rejected.

A real Bearish Shooting Star on NQ daily bars, Jan 24, 2024. Price then followed through 2.1% over the next 5 bars. The bright candles are the pattern; the dimmed bars are surrounding context.
A real Bearish Shooting Star on NQ daily bars, Jan 24, 2024. Price then followed through 2.1% over the next 5 bars. The bright candles are the pattern; the dimmed bars are surrounding context.
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How to read this

Everything here is in R, the setup's own risk. 1R is the distance from the entry (the pattern's closing price) to where it would be proven wrong — its highest high over the 2 bars that form it. So "offered 2R" means price ran twice that distance in your favor at some point before the stop. It does not assume you took profit there: a target is a strategy choice.

Room offered (≥ 1R)

45.2%

Reliable

Offered at least 1× its risk before the stop, vs 40.4% for a random short entry (+4.8 pts).

Move size vs normal

0.78×

Realized range over the next 20 bars vs a random bar. Precedes a quieter stretch.

Typical room (20-bar)

1.15R

Average run in favor (capped at 3R), vs 1.05R for a random short entry.

Summary

Offered at least 1R of room 45.2% of the time vs 40.4% for a random short entry — a 4.8-point gap, wider than the ±1.7-point margin of error from chance, and it holds across the sample. A real, if modest, tendency to offer more room than the market alone.

Room offered, this setup vs a random short entry

Outcome This setup Random entry Edge
Offered ≥ 1R 45.2% 40.4% +4.8
Offered ≥ 2R 30.6% 27.4% +3.1
Offered ≥ 3R 21.8% 19.8% +2.0
Stopped < 1R 54.2% 58.1% -3.9
Went sideways 0.6% 1.5% -0.9

3,089 occurrences · 1,146,594 random-entry controls · 20-bar horizon

A shooting star is a single candle that often caps a rally. It has a small body near the low of its range and a long upper wick, at least twice the height of the body. Buyers drove price up inside the bar, then sellers pushed it all the way back, leaving that long tail overhead as the mark of the rejection.

Steve Nison lists the shooting star among the major reversal patterns in Japanese Candlestick Charting Techniques (1991), where a long upper shadow after a rally signals rejection of the highs.

How to spot it

  • The market is rising into the bar.
  • The body is small and sits in the lower part of the candle’s range.
  • The upper wick is long, at least twice the height of the body.
  • There is little or no lower wick.
  • The body can be red or green. The shape matters more than the color.

The dashed box on the chart above marks the shooting star and the bar before it, on a real occurrence.

The psychology

Price has been rising into this bar, so buyers are confident as it opens. Early in the session they do exactly what the trend would predict and drive price sharply higher, stretching the bar well above the open. For a moment the rally looks like it is extending. Then it all comes back. Sellers meet that push and force price all the way down to near where the candle began, leaving the long upper wick as the scar of the rejection.

The single bar carries the whole handover. Buyers reached for new highs and could not hold any of the ground they took, which is the first time in this advance that their best effort has been turned away. The close near the low says sellers finished the session in command of the bar, not the bulls. The body is small because, after all that back and forth, price ended up roughly where it started, but the journey reveals who now has the upper hand.

The rejection is written in the wick. Whether that turning of the tide tends to lead lower is what the numbers below settle.

Does it actually work?

A pattern is a setup, not a trade, so the honest question is not “did it win” but “how much room did it tend to offer before it was proven wrong.” The tabs below answer that across five futures markets (Nasdaq, S&P 500, gold, crude oil, natural gas) and seven timeframes from one minute to one day.

For each occurrence we measure the room the move offered in units of the pattern’s own risk, then set it against what a random entry on the same market would have done. When the pattern offers more room more often than chance, that shows up as a real edge. When it does not, the page says so plainly.

Read it with the sample size in view. On the faster timeframes a pattern can fire thousands of times, enough to trust. On the daily chart it is far rarer, so treat those numbers as a hint rather than a verdict. Thin samples are flagged for you on the page.

How we measured it

  • Entry is the close of the final candle of the pattern.
  • One unit of risk, 1R, is the distance from that close up to the pattern’s invalidation point: the highest high of the two candles that form it. If price trades through there, the setup is wrong.
  • We then follow the next 20 bars and record how far price ran in your favor, in multiples of that risk, before the stop was hit.
  • Every figure is set against a random entry on the same market and timeframe, so the market’s own drift is accounted for.
  • No profit target and no position sizing. Where you take profit is a strategy choice; this measures only the room the pattern tends to give.

What this page does not cover

  • Volume on the pattern’s candles.
  • Whether the pattern forms at a meaningful resistance level.
  • Pairing it with a trend filter or a confirming signal.
  • A profit target or position sizing. We use the pattern’s own invalidation point as the stop to define risk, but where you take profit, and how much you put on, are strategy decisions this page leaves to you.

Sample Bearish Shooting Star Firings (20)

Based on data through Apr 29, 2026

Time Risk (pts) Room offered Result
Apr 22, 2026, 1:40 AM CDT 8.5 0.00R Stopped
Apr 20, 2026, 11:15 PM CDT 4.75 0.00R Stopped
Apr 16, 2026, 9:10 AM CDT 28.5 1.65R Ran ≥1R
Apr 15, 2026, 7:50 PM CDT 6.75 1.81R Ran ≥1R
Apr 15, 2026, 11:20 AM CDT 9.25 3.00R Ran ≥1R
Apr 8, 2026, 9:00 PM CDT 7 0.00R Stopped
Mar 18, 2026, 12:30 AM CDT 7.75 0.19R Stopped
Mar 5, 2026, 8:20 PM CST 8.75 3.00R Ran ≥1R
Mar 2, 2026, 2:50 AM CST 19 0.71R Stopped
Feb 25, 2026, 5:25 AM CST 4 0.00R Stopped
Feb 17, 2026, 8:40 PM CST 5.25 0.00R Stopped
Feb 13, 2026, 1:00 AM CST 24.75 0.33R Stopped
Feb 10, 2026, 6:35 PM CST 10.75 0.12R Stopped
Feb 5, 2026, 12:45 AM CST 15.25 0.30R Stopped
Feb 3, 2026, 9:25 PM CST 13 0.00R Stopped
Jan 27, 2026, 11:20 PM CST 3 1.00R Ran ≥1R
Jan 12, 2026, 6:15 AM CST 8.5 1.21R Ran ≥1R
Jan 6, 2026, 3:46 PM CST 3.25 0.00R Stopped
Jan 5, 2026, 5:50 AM CST 8 0.28R Stopped
Jan 5, 2026, 12:05 AM CST 7.75 0.48R Stopped

Sample backtest

Real backtested runs of this pattern, with commissions and slippage. Open one for the full equity curve and metrics, or backtest it yourself on your own contract and dates.

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