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Forex · candlestick pattern

Shooting star on EUR/JPY

On EUR/JPY the shooting star showed up 51 times. The target came first 33% of the time, the stop 57%, and 10% went nowhere within 12 candles.

Counted on EUR/JPY: daily candles from January 2015 and hourly candles from October 2024.

By timeframe

TimeframeFoundTarget firstStop firstWent nowhere
Daily633%67%0%
Hourly4533%56%11%

EUR/JPY against the rest

ChartsFoundTarget firstStop firstWent nowhere
EUR/JPY5133%57%10%
All Forex charts60036%57%7%
Every market10,01336%57%7%

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 EUR/JPY

Inside bar · Stochastic bearish cross · Spinning top · Stochastic bullish cross · Doji · MACD bearish cross · EMA 9/21 bullish cross · MACD bullish cross · EMA 9/21 bearish cross · RSI overbought drop · all of them

The shooting star elsewhere

GBP/USD · EUR/USD · USD/CHF · GBP/JPY · USD/JPY · NZD/USD · EUR/GBP · AUD/USD · USD/CAD · GBP/INR · Dow Jones · Sony · Silver · Ethereum · Bitcoin

Questions

How often does the shooting star work on EUR/JPY?

In 51 cases on EUR/JPY, the target (1.5 × ATR) came before the stop (1 × ATR) 33% of the time and the stop came first 57%; 10% went nowhere within 12 candles.

What is the shooting star?

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