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Hello, folks in this article I am going to cover one of the most famous Candlestick patterns i.e Spinning Top Candlestick Pattern.
Identifying and Understanding a Candlestick pattern is really very important as It helps in:
1. Making an accurate prediction in the market
2. Making a proper decision about when to make entry and exit in the market.
However, in this article I am going to cover:
1. What is Spinning Top Candle?
2. Spinning Top Candlestick Pattern
3.Spinning Top Candlestick Trading
2. Spinning Top Technical Analysis
What is a Spinning Top Candle?
If you are an Indian I bet you must have played with a Spinning Top in Hindi we call it Lattu.
Where we used to tie spinning Top with a thread and throw it ground and some used to balance it in the hand.
Similarly, The Candlestick Pattern Spinning Top got its name from the Lattu because of its shape.
Characteristics of Spinning Top Candlestick Pattern
There are two types:
1. Bullish | Green | Buyer Spinning Top
2. Beasish | Red | Bullish Spinning Top
A spinning Top candle is really easy to identify.
This candle has a small body and Long Wick.
It is to be remembered If a Candle shows Big Body and Big Big Wick. It won’t be called Spinning Top.
Similarly, If Candle shows a Small body and Small Wick. It won’t be called a Spinning Top.
How to Trade with Spinning Top Candlestick Pattern:
A Spinning top really very important.
It doesn’t matter whether the spinning Top is Bullish or Bearish.
Spinning only shows there is indecision or confusion in the market.
Suppose, we see a continuous bullish candle and suddenly a Spinning Top Candlestick Pattern appears then it means there could be a change in a trend.
Look at the chart above, at first as you can see there is a continuous green trend candle or we can say that the market is Bullish.
Then suddenly, a green Spinning Top appears and we can see there is a change in market trend to Bearish.
Similarly, after a Red Trend a Red Spinning Top appears and we can see a change in market trend to Bullish.
Winding Up:
I hope you have found this article.
This article was all about Spinning Top Candlestick Pattern, What is Spinning Top Candle?,Spinning Top Candlestick Pattern,Spinning Top Candlestick Trading,Spinning Top Technical Analysis
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