The shooting formation is formed when the open low, and close are roughly the same price, this candle is characterized by a small body and a long upper shadow. It is the bearish version of the hammer.Professional technicians say that the shadow should be twice the length of the real body. when this pattern occurs in an uptrend near resistance level; it indicates a bearish reversal signal The psychology behind the formation of this pattern is that buyers try to push the market higher, but they got rejected by a selling pressure. Characteristics of a Shooting Star Candlestick Color: The body of the Shooting Star may appear green (bullish) or…