This candlestick is simply the inversion of the hanging man: it has a small body and a long wick protruding above it, with little to no wick below. The “shooting star” occurs at the height of an uptrend; its long wick implies that resistance to further bullish movement has been encountered above the close, and a bearish reversal may be imminent. In this case, a strong black candle or a price at the level of the previous bar’s open can act as confirmation or an entry point. Often, shooting stars are further characterized by a gap between the previous bar’s close and the relatively higher open of the shooting star
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