Spinning Tops Candlesticks Pattern & Dojis Candle Patterns

Spinning Top Candle Patterns

Spinning tops candles setup have a small body with a long upper & lower shadows. These spinning top are referred by this name/term of spinning tops because they are similar to a spinning tops on a matchstick.

The upper & lower shadows of the spinning top are longer than the body. The example illustrated & shown below shows spinning tops pattern. You can look for the pattern on your MT4 charts. Example shown & shown below shows a screen-shot to help online traders when it comes to studying and understanding these formations.

Spinning Tops XAUUSD Candlesticks Setups and Doji Candle Patterns - Read Spinning Tops Candle Pattern

How to study candlestick charts - Spinning Tops

Color of the spinning top candle-stick is not very important, this formation show the indecision between the buyers & sellers(bears) in the trading market. When these patterns appear at the top of a trend or at the bottom of the trend it may signify that the trend is coming to an end & it may soon reverse & start moving the in the opposite direction. However, it is best to wait for confirmation signal that direction of a has turned & reversed before trading the signal from this chart setup formation.

Candle Reversal Patterns Formations in xauusd Trading Charts

At the top of an upwards trend a black/red spinning tops shows that a reversal is more likely than when color of the candle is white/blue.

At the bottom of a XAUUSD downwards trend a white/blue spinning top shows that a reversal is more likely than when the colour is black/red.

This reversal signal is confirmed when the next candle setup that forms after the spinning tops candle closes below the neckline for a downwards trend reversal signal setup confirmation, & closes above the neck-line for a reversal signal in a downward trend.

The neck-line is:

For an Upwards XAUUSD Trend - The open of the previous candlestick that was formed just before the spinning top.
For a Downward Trend - The open of the previous candlestick that was formed just before the spinning top candlestick

Below is an example of this Japanese charting techniques where this pattern has formed & how to trade it. On the chart below when the price moved above the neck line the reversal signal setup given by the spinning top candle was confirmed and this was a good point to exit the short sell trade.

Spinning Tops Candlesticks Patterns & Doji Candle Trading Setups

Spinning Top Candle Pattern on a Chart

Color of the spinning top formed is blue therefore meaning that a reversal was more likely as opposed to if the color had been red.

Doji Candles Pattern

This is a set-up with the same opening and closing price. There are various types of doji candle-stick patterns which form on the charts.

following exemplification show various different patterns of the doji candle:

Long-legged doji candle-stick has long upper & lower shadows with opening and closing price at the middle. When Long legged doji appears on a XAUUSD Gold chart it shows the indecision between the traders, the buyer & the sellers.

Below is an example screenshot of Long Legged

Spinning Tops Candlesticks Patterns & Doji Candle Setups

Doji chart pattern

Cross Doji Candle

Cross doji has got a long lower shadow and a short upper shadow and the open and close-out of the day is the same.

This pattern appears at market turning points & warns of a possible market trend reversal in the market. Shown Below is an example illustration of this chart setup formation

Spinning Tops Candlesticks Patterns & Doji Candles Setups

Cross Doji Candle Pattern

Inverted Cross Doji Candle Pattern

Inverted cross doji candles have a long upper shadow and a short lower shadow & the open & close is the same.

This reversal setup pattern appears at market turning points & warns of a possible market trend reversal in the trading market. Shown Below is an example illustration

Spinning Tops XAUUSD Candlestick Trading Setups and Doji Candles Patterns

Inverted Cross doji

Technical Analysis in Gold Trading - All doji candles pattern show the indecision in the market this is because at the top bulls(buyers) were in total control of the market, at the bottom the bears(sellers) were in control of the market but none of them at the close of the market period could gain absolute control of the market & at the close of these trading period represented by this candlestick the price closed unchanged at the same price level as that of the opening price. This doji candlestick pattern shows and illustrates that the overall price movement for that particular trading day was zero pips in total overall or just a minimum price range movement of between 1 to 3 pips. Reading these charts patterns require a very small pip movement between the opening price & closing price.

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Trade Forex Trading

Spinning Tops Candlesticks Pattern & Dojis Candle Patterns

Spinning Top Candle Patterns

Doji Candles Pattern

Cross Doji Candle

Inverted Cross Doji Candle Pattern