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Forex · candlestick pattern

Shooting star on USD/CAD

On USD/CAD the shooting star showed up 39 times. The target came first 31% of the time, the stop 67%, and 3% went nowhere within 12 candles.

Counted on USD/CAD: daily candles from January 2015 and hourly candles from October 2024.

By timeframe

TimeframeFoundTarget firstStop firstWent nowhere
Hourly3931%67%3%

USD/CAD against the rest

ChartsFoundTarget firstStop firstWent nowhere
USD/CAD3931%67%3%
All Forex charts60036%57%7%
Every market10,01336%57%7%

Year by year

YearFoundTarget firstStop first
2024729%71%
20251638%62%
20261625%69%

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 USD/CAD

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

The shooting star elsewhere

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

Questions

How often does the shooting star work on USD/CAD?

In 39 cases on USD/CAD, the target (1.5 × ATR) came before the stop (1 × ATR) 31% of the time and the stop came first 67%; 3% went nowhere within 12 candles.

What is the shooting star?

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