Bullish Spinning Top. They are easy to spot and the best part is that you can use these patterns into your existing trading strategy as well. It should be considered a potential bullish signal.
Infographic An Introduction to Candlestick Charts from www.visualcapitalist.com
It must appear at the bottom of a downtrend or support to be more relevant. A spinning top that occurs at the top of an uptrend could be a sign that bulls are losing their control and the trend may reverse. Candlescanner recognizes in total 106 patterns:
It Has Greater Significance When The Market Is Either:
The spinning top can be either bullish or bearish at the candle close. It means that a spinning top may alert about an upcoming crucial change in a trend. A spinning top that occurs at the top of an uptrend could be a sign that bulls are losing their control and the trend may reverse.
The Spinning Top Candlestick Pattern Means Many Things, The Prices Can Move In Sideways Direction Or Reverse To The Downside Or Upside.
The spinning top candlestick pattern is a versatile single candle pattern. The usual cue for the direction is the candlestick body. It is said that the spinning top candlestick pattern can be either bullish or bearish when the candle closes.
The Bulls Are Coming In To Take The Reigns.
It should be considered a potential bullish signal. Spinning top candlestick pattern summarized. The spinning top candlestick pattern can be bullish or bearish.
Indicates Some Level Of Indecision But Has A Bullish Bias.
If a “green” spinning top forms on a resistance level, it should be considered a potential bearish signal even thought it is bullish (green). Spinning tops form when the bulls and bears battle for control of price, but neither side can overwhelm the other. A bullish spinning top pattern is a potential indicator of a reversal in a financial asset’s prevailing downtrend.
It Forms At The Peak Of An Uptrend, The Bottom Of A Downtrend, Or In The Middle Of A.
Known as spinning top candlesticks, they signal indecision in the market. The two variations of the spinning top pattern are the bullish spinning top and the bearish spinning top This candlestick pattern is often located within an uptrend, downtrend and/or consolidation (sideways movement) signifying.
