Spinning Top candlestick pattern
This is a small, single candlestick pattern. It raises at three stages. It can be either bullish or bearish in nature.
It is found in the following stages:
Peak of an uptrend
Bottom of a downtrend
Middle of a trend.
This pattern rises in the uptrend, downtrend and sideways trend when there is no decision taken by either buyer or seller. Henceforth creating a possible trend change.
It is necessary for traders to wait and watch for the next price movement.
Inference from Spinning Top candlestick pattern
Entry point: During an uptrend, If a bullish candle forms after this pattern at a support level.
Exit point: If a bearish candle forms after this pattern at a resistance level.
To ensure that our trading strategy is effective, its always recommended to mix and match the patterns and indicators.
Marubozu candlestick pattern
This is a single long candlestick pattern which rises anywhere in the trend. Marubozu is a Japanese word which means shaved head.
It can be either bullish or bearish candle.
Bullish candle: The open and low are almost equal. The high and close are almost equal.
Bearish candle: The open and high are almost approximately equal. The close and low are also approximately equal.
The illustration chart below displays a sample entry and exit of this pattern:
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A bearish candle forms when the sellers push the price lower.
Inference from Marubozu candlestick pattern
Entry point: During an uptrend, If a bullish candle forms after this pattern at a support level.
Exit point: If a bearish candle forms after this pattern at a resistance level.
To ensure that our trading strategy is effective, its always recommended to mix and match the patterns and indicators.
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