Candlestick chart: Spinning Tops

Spinning Tops

Another type of candlestick chart, known as spinning top possess both long upper and long lower shadow. Spinning tops characteristics:-
- The short body shows small movement from open to close.
- Long shadows on the upper and lower side indicates buyer and seller were active during the trading session.
- The open and close maybe short (small), however, price move significantly higher and lower during the trading session.

Spinning tops indicates indecision trading. Neither party managed to dominate buying or selling actions, thus resulting in Standoff.

Indication:-
After Long Hollow (White) candlestick, a spinning top signify weakness among uptrend and a potential reverse or interruption in trend.
Conversely, after Long (Filled) candlestick, a spinning top signify weakness among downtrend and a potential reverse or interruption in trend.