Candlestick patterns indicator-Spinning Tops

Candlestick patterns indicator-Spinning Tops(Figure 12)

Spinning tops a re candles that have a small body compared to the size of the wicks. For a candle to be defined as a spinning top it must not only have long wicks, but must have wicks at both ends of the body. Spinning tops may or may not offer information depending on their place on a stock chart. In a market that is trending sideways a spinning top can usually be considered neutral. However, after a big move in price in either direction a spinning top can have the same reversal implications as the doji, especially if it is accompanied by a spike in volume or forms within a few days of a doji.

Candlestick patterns indicator-Spinning Tops(Figure 13)

In Figure 13 you can see spinning tops at reversal points in the price of EUR/USD. Examining this chart will reveal more spinning top candles assuming a more neutral roll.