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Crypto · candlestick pattern

Shooting star on Chainlink

On Chainlink the shooting star showed up 270 times. The target came first 33% of the time, the stop 61%, and 6% went nowhere within 12 candles.

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

By timeframe

TimeframeFoundTarget firstStop firstWent nowhere
Daily425%75%0%
4-hour5133%65%2%
Hourly21533%60%7%

Chainlink against the rest

ChartsFoundTarget firstStop firstWent nowhere
Chainlink27033%61%6%
All Crypto charts7,26636%57%7%
Every market10,01336%57%7%

Year by year

YearFoundTarget firstStop first
20215332%60%
20224439%55%
20235833%59%
20245527%67%
20253531%66%
20262544%56%

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 Chainlink

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

The shooting star elsewhere

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

Questions

How often does the shooting star work on Chainlink?

In 270 cases on Chainlink, the target (1.5 × ATR) came before the stop (1 × ATR) 33% of the time and the stop came first 61%; 6% went nowhere within 12 candles.

What is the shooting star?

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