บทที่ 3 Spinning Top
Spinning top is a candlestick pattern with a substantially shorter body surrounded on both sides by two long candlestick wicks. It can be either bullish or bearish at the candle close. This candlestick pattern is often located within an uptrend, downtrend and/or consolidation (sideways movement) signifying possible reversals.
A spinning top candlestick is formed when the bulls send the price higher than the opening price, and the bears then push it back down before the market closes. Or, when bearish traders push prices lower than the open price and bullish traders push it back up before the market closes.
There are two variations of this chart pattern: the bullish spinning top (white in color) and the bearish spinning top (orange in color). The bullish formation occurs when the closing price is higher than the opening price, while the bearish pattern occurs when the opening price is higher than the closing price.
The identification mark for an ideal spinning top will be:
●Very small actual body
●The length of shadow should be more than the length of the body.
●Length of the upper and lower shadow has to be more or less of the same size.
●The more the length of the shadow, is considered to be a more powerful indication.
●The color of the candle does not have much significance.
How to trade the Spinning Top Candlestick Pattern?
Spinning Top pattern simply means that neither the buyers nor the sellers could gain the control of the market. However, we usually can get the signals that spinning top releases by its location on the chart.
Spinning Top at the top in an Uptrend
This could mean:
The
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