Spinning Tops Consolidation Gold Candles Pattern

Spinning Tops Candlesticks Gold Pattern

Spinning tops candlesticks pattern have a small body with long upper & lower shadows. These spinning top candles pattern are referred by this name because these candlestick patterns are similar to spinning top spinning on a matchstick.

The upper and lower shadows of the spinning tops candlesticks patternare longer than the body. The example illustrated and explained below shows the spinning tops candlesticks pattern. You can look for the spinning tops candles pattern in your MT4 gold charts. The example illustrated and explained below shows a screenshot to help gold traders when it comes to learning and understanding these spinning tops candlesticks pattern formations.

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Color of the spinning tops candles pattern is not very important, this pattern show the indecision between buyers and sellers in the Gold Trading market. When these spinning tops candlesticks patterns appear at the top of a gold trend or at the bottom of the gold trend it may trading signal that the trend is coming to an end and it may soon reverse and begin going the other direction. However, it is better to wait for confirmation signals that the direction of a gold trend has reversed before trading the trading signal from this spinning tops candles pattern formation.

Spinning Top Candle Reversal Patterns Formations on gold Charts

At the top of an upward Gold trend a black/red spinning top candlestick pattern shows that a trend reversal is more likely than when the color is white/blue.

At the bottom of a Gold Trading downward trend a white/blue spinning top candlestick pattern shows that a trend reversal is more likely than when the color is black/red.

This spinning top candlestick pattern reversal gold signal is confirmed when the next gold candlestick that forms after the spinning tops candlestick pattern closes below the neckline of the spinning tops candlestick pattern for a downward gold trend reversal signal confirmation, and closes above the neckline of the spinning tops candlestick pattern for a reversal gold signal in a xauusd trading downwards trading trend.

The spinning tops candles pattern neck line is:

• For an Upwards Gold Trend - The open of the previous candle which was plotted just before spinning tops candlestick pattern.
• For a Downwards Gold Trend - The open of the previous candlestick which was plotted just before spinning tops candle pattern

Below is example of this Japanese candlestick charting techniques where this spinning tops candlesticks pattern has formed and how to trade it. On the gold chart below when the price moved above the neckline the gold trend reversal signal given by the spinning tops candlestick pattern was confirmed and this was a good point to exit the short sell xauusd trade transaction.

Spinning Top Candles Pattern on a Chart - Spinning Tops Candlestick Patterns - Spinning Tops Consolidation XAUUSD Candlesticks Pattern - Reversal Candlestick Patterns - Spinning Tops Candles Patterns

The color of the spinning tops candle pattern formed is blue therefore meaning that a gold reversal was more likely as opposed to if the color of the spinning tops candlestick pattern had been red.