Spinning tops candlestick pattern

SPINNING TOPS

This candlestick pattern comes with a long upper shadow and long lower shadow and small real body. The most important thing to notice when a spinning top occurs is the colour of the spinning tops body. This pattern shows that there was indecision among the bulls and the bears.

Pattern psychology:

As we saw above spinning top occurs with small real body. which shows on a closing basis there was no movement from opening to the closing of trade. The long shadows indicate that bulls and bears were fighting and in the end no nobody was able to win convincingly.

Importance:

If the spinning top originates at the top of an uptrend it shows lack of buyers in the market and a possibility of a reversal of the current trend. This pattern needs confirmation.

AN EXAMPLE OF SPINNING TOP