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Crypto · candlestick pattern

Shooting star on Cardano

On Cardano the shooting star showed up 287 times. The target came first 37% of the time, the stop 56%, and 7% went nowhere within 12 candles.

Counted on Cardano (ADA/USDT): daily candles from January 2021, 4-hour candles from January 2021 and hourly candles from January 2021.

By timeframe

TimeframeFoundTarget firstStop firstWent nowhere
Daily862%38%0%
4-hour6244%52%5%
Hourly21735%58%7%

Cardano against the rest

ChartsFoundTarget firstStop firstWent nowhere
Cardano28737%56%7%
All Crypto charts7,26636%57%7%
Every market10,01336%57%7%

Year by year

YearFoundTarget firstStop first
20213839%61%
20225740%54%
20235235%62%
20244829%58%
20256138%54%
20263145%45%

The last 8 times

Counted by the Trading Class research engine on real past candles: entry at the signal candle's close, target 1.5 × ATR(14), stop 1 × ATR(14), 12 candles to decide, a candle that touches both counts as the stop. How we count. Past data, not a forecast and not advice.

What the shooting star is

After a rise, buyers pushed up and sellers slammed it back down.

A firework shoots high into the sky, sparkles, and then falls back down. A shooting star candle is like that: after a rise, price shot up during the candle, then sellers pushed it back down near where it started. The long top wick is the trail it left behind.

The full shooting star lesson, video and quiz ›

Other patterns on Cardano

Inside bar · Stochastic bearish cross · Stochastic bullish cross · Spinning top · Volume profile rejection · Volume profile bounce · Doji · MACD bullish cross · MACD bearish cross · EMA 9/21 bearish cross · all of them

The shooting star elsewhere

Ethereum · Bitcoin · Solana · Litecoin · NEAR Protocol · Chainlink · Uniswap · BNB · Polkadot · Aave · Dow Jones · Sony · GBP/USD · EUR/JPY · Silver

Questions

How often does the shooting star work on Cardano?

In 287 cases on Cardano, the target (1.5 × ATR) came before the stop (1 × ATR) 37% of the time and the stop came first 56%; 7% went nowhere within 12 candles.

What is the shooting star?

After a rise, buyers pushed up and sellers slammed it back down.