Spinning Tops Candlestick Patterns - Spinning Tops Consolidation Candles Pattern

Spinning Tops Candles Pattern

Spinning tops candles pattern have a small body with long upper & lower shadows. These spinning tops candlesticks pattern are referred by this name because these candle patterns are similar to spinning tops spinning on a matchstick.

The upper and lower shadows of the spinning tops candlesticks patternare longer than the body. The example below shows the spinning top candles pattern. You can look for the spinning tops candles pattern in your MetaTrader 4 forex charts. The example below shows a screenshot to help forex traders when it comes to learning and understanding these spinning tops candlesticks pattern formations.

How to Read Candle Charts Pattern - Spinning Tops Candle Pattern - How to Trade Spinning Tops Candlesticks Patterns - How to Interpret Spinning Tops Candlesticks Pattern

Color of the spinning top candles pattern is not very important, this pattern show the indecision between buyers and sellers in the FX market. When these spinning tops candlesticks patterns appear at the top of a forex trend or at the bottom of the forex trend it might signify that the forex trend is coming to an end and it might soon reverse and start going the other direction. However, it is better to wait for confirmation trading signals that the direction of a forex trend has reversed before trading the signal from this spinning top candles pattern formation.

Spinning Tops Candle Reversal Patterns Formations on forex Trading Charts

At the top of an upward Forex trend a black/red spinning top candlestick pattern shows that a trend reversal is more likely than when the color is white/blue.

At the bottom of a Forex downward trend a white/blue spinning top candlestick pattern shows that a trend reversal is more likely than when the color is black/red.

This spinning top candlestick pattern reversal signal is confirmed when the next forex candlestick that forms after the spinning tops candlestick pattern closes below the neckline of the spinning tops candlestick pattern for a downward forex trend reversal signal confirmation, and closes above the neckline of the spinning tops candlestick pattern for a reversal signal in a downward trend.

The spinning tops candles pattern neck line is:

• For an Upwards Forex Trend - The open of the previous candlestick that was plotted just before the spinning tops candlestick pattern.
• For a Downwards Forex Trend - The open of the previous candlestick that was plotted just before the spinning tops candlestick pattern

Shown Below is example of this Japanese candlestick charting techniques where this spinning tops candlesticks pattern has formed and how to trade it. On the forex chart below when the price moved above the neckline the forex trend reversal signal given by the spinning tops candlestick pattern was confirmed and this was a good point to exit the short sell forex trade.

Spinning Tops Candles Pattern on a Chart - Spinning Tops Candlestick Patterns - Spinning Tops Consolidation Candlesticks Pattern - Spinning Tops Candles Patterns

The color of the spinning tops candle pattern formed is blue therefore meaning that a forex reversal was more likely as opposed to if the color of the spinning tops candlestick pattern had been red.