What Is Spinning Top And Marubozu Candlestick Pattern

14.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.

15.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:

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.