The color of the real body signifying not much importance, this basic pattern in Forex candlestick indicates the indecision between the buyers and sellers. White Spinning Top The White Spinning Top candle is a single candlestick pattern, with a small spinning top candlestick forex patterns body.
You will see that the upper and lower shadows that have a greater length than the body’s length. The white spinning top pattern shows that the market moving higher and then sharply lower, or vice versa, closes above the opening price. Thus, creating a white body, representing complete indecision between the bulls and the bears. The White Spinning Top observed after a long rally or a long white candlestick, communicates weakness among the bulls. But if it is observed after a long decline or a long black candlestick, this shows weakness among the bears. Like in most cases, the White Spinning Top candle needs to be used with other candlesticks for the right confirmation of a trend. Black Spinning Top With a small black body with upper and lower shadows having a greater length than the body’s length, the Black Spinning Top candle signifies that the market moves higher and then sharply lower, or vice versa.
Closing below the opening price, it creates a black body, representing complete indecision between the bulls and the bears. If a Black Spinning Top is observed after a long rally or long white candlestick, this means weakness among the bulls and warns about a potential change or interruption in trend. But if a Black Spinning Top pattern is observed after a long decline or a long black candlestick, this signals weakness among the bears and warns about a potential change or interruption in trend. It is a graphical representation of price fluctuations for any instrument on any time frame. Each candlesticks will display the relationship between those four prices and will make it easy to read which side, bulls or bears, took control of the trading session. There are some traders who disregard the highs and lows of the sessions and only use the bodies of the candlesticks, open and close, for trading decisions. New Candlesticks Equals New Information The building of each candlestick on your chart will display the opening price and that will occur at either the top or the bottom of the body.