BEARISH SHOOTING STAR
The chart showing Series 1 series.
To see the performance of the pattern in your stock exchange in the context of other stock markets please examine the table below. Find your stock market there and see how it ranks among the others. This will give you an idea about the pattern’s strength and reliability and help you in your selling decisions.
BEARISH SHOOTING STAR
Definition
This pattern consists of a white body followed by an Inverted Hammer that is characterized by a long upper shadow and a small body. It is similar in shape to the Bullish Inverted Hammer pattern but unlike it, the Shooting Star appears in an uptrend and signals a bearish reversal.
Recognition Criteria
1. The market is characterized by a prevailing uptrend.
2. The first day of the pattern is a white candlestick.
3. On the second day, a small body at the lower end of the trading range is observed. Color of this body is not important.
4. The upper shadow of this second candlestick should be at least twice as long as the body.
5. There is (almost) no lower shadow.
Pattern Requirements and Flexibility
The body of the Inverted Hammer should be small. The upper shadow must be at least twice as long as the body but not shorter than an average candlestick length. It is desired that there is no or a very tiny lower shadow. The top of the Inverted Hammer’s body should be higher than the preceding candlestick’s body.
Trader’s Behavior
The pattern occurs in a bullish background and the white candlestick that appears on the first day further supports the bullishness. On the second day, in which an Inverted Hammer is seen, market opens at or near its low. Then prices change direction and we see a rally. However, the bulls do not succeed in sustaining the rally during the rest of the day and prices finally close either at or near the low of the day. Certainly, this will cause some concern to any bulls holding profitable positions.
Sell/Stop Loss Levels
The confirmation level is defined as the low of the Inverted Hammer’s body. Prices should cross below this level for confirmation.

The stop loss level is defined as the last high. Following the bearish signal, if prices go up instead of going down, and close or make two consecutive daily highs above the stop loss level, while no bullish pattern is detected, then the stop loss is triggered.
Title
Pattern Performance in Stock Exchanges since 1/1/2016
Country 
Stock Exchange 
Website 
Patterns
Total
 
Confirmed
Total
 
Profitable
Signals
 
Confirmation
%
 
Profitable
Signal%
 
Per Trade 
Samples 
Profit% 
Loss% 
Total Net% Descending
CanadaCSE 2411845.8372.7317.822.7315.09
TurkeyBIST 76585.7183.334.170.174.00
USOTC PINK 112470037762.7253.485.591.973.62
CanadaTSX-V 155945760.6560.646.643.033.61
PakistanKSE 2301438862.1761.544.711.243.46
IndonesiaIDX 32622213568.1060.814.451.343.11
OmanMSM 21150.00100.003.000.003.00
UAEUAE 35221562.8668.184.141.182.95
Hong KongHKEX 93156233160.5858.694.061.122.94
ArgentinaBUE 92513256.5261.543.560.832.73
ThailandSET 42228516067.5456.143.590.862.72
South KoreaKOSDAQ 83650430460.2960.323.931.352.58
IndiaNSE 129683849064.7458.403.721.172.56
MalaysiaBURSA 37823713662.7057.383.460.922.53
Poland GPW 25717511068.8762.153.370.862.51
KuwaitKSE 34171050.0058.823.290.882.41
IndiaBSE 2091132674663.4156.263.781.402.38
BangladeshDSE 40127116667.5861.253.160.932.23
SwedenSTOCKHOLM 63936718857.4351.233.221.082.14
USNASDAQ 2843175592561.8052.653.361.262.10
UKLSE 2012660.0050.002.250.172.08
NorwayOSE 158904156.9645.563.431.362.08
IsraelTASE 44425713957.8854.093.050.992.06
BrazilBOVESPA 3351979958.8150.253.061.042.03
FrancePARIS 78745225057.4355.312.860.842.02
Poland GPW 53360.00100.002.000.002.00
DenmarkCOPENHAGEN 92493153.2663.273.471.511.96
PhilippinesPSE 1701127265.8864.293.511.641.87
South KoreaKRX 83547527357.0157.352.750.891.86
Vietnam HOSE 29619412065.5461.862.861.041.81
RussiaMICEX 17151288.2480.002.000.201.80
JapanNAGOYA 3014746.6750.002.861.141.71
The World 41285249931318960.5852.732.801.101.71
Saudi ArabiaTADAWUL 37824213264.0254.552.500.851.64
BelgiumBRUSSELS 108603055.5650.002.600.981.62
TaiwanTWSE 122778241163.7352.562.520.901.62
TaiwanGTSM 93864234868.4454.212.651.031.61
ChinaSZSE 1917114861259.8953.313.061.451.61
Austria WIENERBORSE 44291765.9158.622.170.591.59
QatarQE 49351771.4348.572.490.911.57
JapanTOKYO 35352044106157.8251.912.561.041.52
TurkeyBIST 55036118865.6452.082.711.201.52
UKLSE 171592447853.8851.732.571.061.50
SwitzerlandSIX 62233.33100.001.500.001.50
RussiaMICEX 1901065656.3252.342.260.791.47
AustraliaASX 74243720358.8946.452.951.521.43
ChinaSSE 114364130756.0847.892.701.361.33
ThailandSET 138661.5475.001.250.001.25
EgyptEGX 4718838.3044.442.721.501.22
MexicoBMV 29221375.8659.091.500.321.18
USNYSE 41042502122261.0148.802.090.921.17
Vietnam HNX 75473262.6768.092.191.041.15
ChileBCS 69412259.4253.661.730.591.15
SpainIBEX 1491034969.1347.572.081.011.07
BrazilBOVESPA 27151055.5666.671.400.331.07
TaiwanGTSM 332100.0066.671.000.001.00
GermanyXETRA 115870332560.7146.231.810.890.92
ItalyBORSA 90060128566.7847.422.191.280.91
NetherlandsAMSTERDAM 2101426867.6247.891.790.890.89
DenmarkCOPENHAGEN 157546.6771.430.860.000.86
JapanTOKYO 127558.3371.430.860.000.86
USAMEX 3011818960.1349.172.501.640.86
CanadaTSX 119269436158.2252.021.851.040.81
SwedenSTOCKHOLM 125141.6720.001.400.600.80
IndonesiaIDX 105350.0060.001.000.200.80
USFOREX 33211363.6461.900.900.140.76
ChinaSSE 158353.3337.501.000.250.75
SingaporeSGX 109643558.7254.692.001.300.70
Greece ATHENS 58351560.3442.862.511.830.69
SwitzerlandSIX 3611969454.2947.961.540.870.67
PortugalLISBON 116254.5533.330.670.000.67
ItalyBORSA 105150.0020.000.600.000.60
Austria WIENERBORSE 105150.0020.000.600.000.60
FOREXFOREX 2820971.4345.000.750.150.60
AustraliaASX 1310676.9260.001.000.400.60
BelgiumBRUSSELS 105150.0020.000.600.000.60
FrancePARIS 105150.0020.000.600.000.60
SpainIBEX 1710358.8230.000.600.000.60
Greece ATHENS 105150.0020.000.600.000.60
GermanyXETRA 105150.0020.000.600.000.60
ChileBCS 2310743.4870.000.800.200.60
NetherlandsAMSTERDAM 105150.0020.000.600.000.60
JapanFUKUOKA 117463.6457.141.140.570.57
PortugalLISBON 38241263.1650.001.380.830.54
South KoreaKOSDAQ 22151068.1866.670.730.200.53
USPREFERRED 2941516151.3640.401.030.520.50
MexicoBMV 173934353.7646.241.531.100.43
Vietnam HOSE 31241477.4258.330.630.250.38
CanadaTSX 148357.1437.500.630.250.38
IndiaNSE 885100.0062.500.500.250.25
UAEUAE 2813746.4353.850.310.080.23
PhilippinesPSE 1611368.7527.270.270.090.18
PakistanKSE 116254.5533.330.330.170.17
IsraelTASE 137553.8571.430.430.290.14
SingaporeSGX 138461.5450.000.250.130.13
BangladeshDSE 2416766.6743.750.380.250.13
Hong KongHKEX 1810555.5650.000.300.200.10
USOTCBB 1000.000.000.000.000.00
MalaysiaBURSA 2415662.5040.000.270.33-0.07
NorwayOSE 97377.7842.860.140.29-0.14
ArgentinaBUE 2111552.3845.450.450.73-0.27
JordanASE 116254.5533.330.671.00-0.33
USWARRANTS 53160.0033.330.673.00-2.33
Patterns Total: How many of this particular pattern has been detected in this period
Confirmed Total: How many of the detected patterns were confirmed and converted into signals
Profitable Signals: The number of the confirmed patterns that have given profitable trades
Confirmation %: The percentage of the confirmed patterns with respect to the total occurrences of this pattern
Profitable Signal %: The percentage of the successful confirmed patterns with respect to the total confirmed patterns
Per Trade Profit %: Total Profits / Total Trades
Per Trade Loss %: Total Losses / Total Trades
Per Trade Net%: (Total Profits–Total Losses) / Total Number of Trades
Samples: Live sample ticker symbols from stock exchanges with links to stock pages of the related bulls.com© family websites

Disclaimers:

Government regulations require disclosure of the fact that while these methods may have worked in the past, past results are not necessarily indicative of future results. While there is a potential for profits there is also a risk of loss. There is substantial risk in security trading. Losses incurred in connection with trading stocks or futures contracts can be significant. You should therefore carefully consider whether such trading is suitable for you in the light of your financial condition since all speculative trading is inherently risky and should only be undertaken by individuals with adequate risk capital. Neither Americanbulls.com LLC, nor Candlesticker.com makes any claims whatsoever regarding past or future performance. All examples, charts, histories, tables, commentaries, or recommendations are for educational or informational purposes only.

Candlesticker.com is an independent and free website and all the Services provided by Americanbulls.com LLC at Candlesticker.com are completely free of charge. Americanbulls.com LLC does not receive compensation by any direct or indirect means from the visitors and users of this website (or of any other bulls.com© family websites), and from the stocks, securities and other institutions or any underwriters or dealers associated with the broader national or international forex, commodity and stock markets.

You agree that Candlesticker.com and Americanbulls.com LLC its parent company, subsidiaries, affiliates, officers and employees shall not be liable for any direct, indirect, incidental, special or consequential damages.