CANDLESTICK PATTERNS
145 CANDLESTICK PATTERNS || PAGE 12 || (23) Spinning Top (Upward Continuation) ; (24) Spinning Top (Downward Continuation)
(23) Spinning Top (Upward Continuation):
If the Spinning Top is usually seen in an Uptrend market and there is no strong Bearish Candlestick after the Spinning Top, then this Spinning Top does not provide Downtrend Reversal signal, but then this Spinning Top is a Upward Continuation signal of the market.
as shown in the example below.
That's why pro traders wait for the conformation candle , You should always wait for a full candle to develop before entering the trade. Do not open a position in the middle of one candle.
Note that this rule also applies to Doji Star (Upward Continuation).
(24) Spinning Top (Downward Continuation):
Spinning Top is usually seen in a Downtrend Market and if there is no strong Bullish Candlestick after Spinning Top, then this Spinning Top does not provide Uptrend Reversal signal, but then Downward Continuation signal of the market .
As shown in the example below.
You need to be reactive rather than predictive
That's why pro traders wait for the conformation candle , You should always wait for a full candle to develop before entering the trade. Do not open a position in the middle of one candle.
Note that this rule also applies to Doji Star (Downward Continuation).
If the Spinning Top is usually seen in an Uptrend market and there is no strong Bearish Candlestick after the Spinning Top, then this Spinning Top does not provide Downtrend Reversal signal, but then this Spinning Top is a Upward Continuation signal of the market.
as shown in the example below.
That's why pro traders wait for the conformation candle , You should always wait for a full candle to develop before entering the trade. Do not open a position in the middle of one candle.
Note that this rule also applies to Doji Star (Upward Continuation).
(24) Spinning Top (Downward Continuation):
Spinning Top is usually seen in a Downtrend Market and if there is no strong Bullish Candlestick after Spinning Top, then this Spinning Top does not provide Uptrend Reversal signal, but then Downward Continuation signal of the market .
As shown in the example below.
You need to be reactive rather than predictive
That's why pro traders wait for the conformation candle , You should always wait for a full candle to develop before entering the trade. Do not open a position in the middle of one candle.
Note that this rule also applies to Doji Star (Downward Continuation).
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