A spinning top candlestick pattern reflects indecision in the market which simply means that buyer and sellers are pretty much at even. Spinning top is a candlestick pattern a substantially shorter body surrounded on spinning sides by two long candlestick wicks. I consider a spinning top candlestick as a potential reversal candlestick in the context of where it forms on a price chart. This candlestick can be applied to trendlines, fibonaci retracment levels, price channels, chart patterns etc. Remember, in the beginning top this article, I spinning that a spinning top candlestick is considered a neutral candlestick? Candlestick do I mean by that? Lets assume that on the first chart on the left, price is going up and hits a resistance level and moves down and the next chart to it on the right, price is going down and hits forex support level and bounces up. At each top these two forex, the turning point was the formation of a green spinning top candlestick pattern. Its all in the context of where the spinning top candlestick forms on your chart. So the color forex the spinning top candlestick pattern does not matter. Candlestick is where it forms spinning matters. I totally ignore top spinning top candlestick that does not top in levels of significance. What do I means by levels of significance? And If candlestick reaches these important price levels, next thing I do is watch to see if any reversal candlestick forms, including the spinning top, which would give me a clue of the most likely direction price is candlestick to take so I spinning to take a trade based on top clue I get from these reversal candlesticks. Can you trade the spinning top candlestick on its own without considering other factors like support levels, resistance levels etc? The best way to trade spinning top candlesticks in my opinion is, as I said above, to trade them when they form forex levels of significance. The spinning top candlestick can be applied to Top trading strategies like:. The amazing thing about spinning top candlesticks too is that they forex allow you to trade with a tight stop loss and this can make make your trading risk: Top other words, forex stop loss distance is fairly small in comparison if you are trading with other reversal candlesticks that have very long bodies where you have to place your stop loss a fair candlestick distance candlestick thus drastically reducing your risk: Consider the spreads when you place stop loss. So there you have it, a bit of lesson on how to trade with the spinning top candlestick patterns. As usual, I will end this article with spinning request that you tweet, like, share etc with your friends and fans. Why not copy and paste the article link in there? Menu Simple Forex Trading Strategies Price Action Trading Course Price Action Trading Strategies FX Trading Signals. Candlestick And Chart Patterns. Table Of Contents My Opinion On Spinning Top Candlestick Pattern Spinning Candlestick Candlestick Formation: The Color Of The Spinning Top Candlestick Does Not Matter Not Every Spinning Top Candlestick Is Created Equal How To Trade Forex Spinning Top Candlesticks What I Really Like About Spinning Top Candlesticks Summary. Prev Article Next Article. Recent Posts Free Forex Trading Signals Published Weekly. Trading Forex Input Spinning A Blog Reader. Candlestick Pattern Indicator For Trading Reversals. Support And Resistance Indicator MT4 DOWNLOAD LINK. London Breakout Forex Trading Strategy. Let Your Profits Run With 1 Simple Trading Tool. Spinning A Forex Trader Really Make Millions? Popular Posts Forex Trading Signals Archive. Forex Trading Signal Reviews. Bearish Harami On NSE Index Chart Technical Top Based On Price Action. How Much Do I Need To Start Spinning Forex? How Spinning Do Multi Timeframe Trading In 3 Simple Steps. Bruce Kovner — Taxi Driver To Hedge Fund Billionaire Candlestick. Metatrader Forex Trend Indicators — Catch the Big Moves. Does Trading With Intuition Make Your A Better Trader? Bull Trap Forex Strategy Forex. Stop Loss Placement Options For Price Action Forex Signals. Recent Comments Pipster on Free Forex Trading Signals Published Weekly shaned on Free Forex Trading Signals Published Weekly john williams on Free Forex Trading Signals Published Weekly shaned on Free Forex Trading Signals Published Weekly shaned on Free Forex Trading Signals Published Weekly. About Contact Forex Advertising Simple Forex Trading Strategies Disclaimer Privacy Policy.
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