The Shooting Star
A session with a long upper shadow and a small real body near the bottom end of the trading range is called a shootings tar. Just as the long lower shadow of a hammer is bullish, so the long upper shadow of the shooting star is bearish. The long upper shadow means that the bears have been able to sharply drag prices back from their highs. Shooting star must appear after an uptrend. The shooting star's long upper shadow reflects market rejection of higher prices.
Shooting star is an upthrust. An upthrust is created when prices break above a resistance area, but then retreat back under the previously broken resistance. This scenario has bearish implications.
Always look at the preceding trend to determine if the hammer, shooting star, or hanging man lines should be acted upon. Remember that as reversal signals, they
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