Shooting Star — When Buyers Get Overpowered at the TopGoldOANDA:XAUUSDardian_JoeShooting Star is a pattern that typically appears at short-term tops or after a rally. Its defining feature is a small body positioned near the bottom, a long upper wick, and a very short or virtually nonexistent lower wick. The longer the upper wick, the clearer the rejection signal. The significance of a Shooting Star is that buyers tried to push price higher, but couldn't hold that level. Sellers then fought back and pulled the close down near the low of the candle. This suggests buying pressure is starting to weaken, especially if the candle forms at a resistance zone. But like other candlestick patterns, a Shooting Star shouldn't be used in isolation. If it appears within a very strong uptrend without a clear resistance zone nearby, the signal may not be strong enough to conclude a reversal. How to identify a quality Shooting Star: Appears after a rally. Located at resistance or a key price zone. Has a long upper wick showing strong rejection. Followed by a bearish confirmation candle or price breaking below the Shooting Star's low. A common mistake is selling the moment a long upper wick appears. Without confirmation, the market can still continue higher after a brief pause. A Shooting Star doesn't guarantee price will fall. It only shows that at a higher price level, buyers were rejected. Traders should treat this as a warning signal, then wait for further confirmation from price action. Reading candles correctly isn't about memorizing pattern names — it's about understanding which side is in control of the market at a key location.