Spinning Tops Candlesticks Pattern and Dojis Metal Candlestick Patterns

Spinning Tops Metal Candlestick Patterns

Spinning tops candles pattern have a small body with long upper and lower shadows. These spinning tops are referred to by this name of spinning tops because they are similar to a spinning top on a matchstick.

The upper and lower shadows of the spinning tops are longer than the body. The example illustrated and explained below shows the spinning top pattern. You can look for the pattern in your MT4 Metals Platform charts. Example illustrated & described below shows a screenshot to help traders when it comes to learning & understanding these formations.

How to read candlestick metal charts - Spinning Tops

The color of the spinning top candle is not very important, this formation show the indecision between the buyers and sellers in the metal market. When these metal patterns appear at the top of a metals trend or at the bottom of the metals trend it might signal that the metals trend is coming to an end & it might soon reverse and start going the other direction. However, it is best to wait for confirmation trading signals that the direction of a metals trend has reversed before trading the trading signal from this chart formation.

Candle Reversal Patterns Formations on Trading Charts

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

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

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

The neckline is:

• For an Upwards Metals Trend - The open of the previous candlestick that was drawn just before the spinning top.
• For a Downward Metals Trend - The open of the previous candlestick that was drawn just before the spinning top

Below is an example of this Japanese charting techniques where this pattern has formed & how to trade it. On the trading chart below when the metals price moved above the neckline the reversal metals signal given by the spinning top candlestick was confirmed and this was a good point to exit the short sell metals trade.

Spinning Tops Pattern on a Chart

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

Doji Candlesticks Pattern

This is a pattern with the same opening & closing metals price. There are various types of doji candlestick patterns that form on charts.

The following example show various patterns of the doji candlestick:

Long-legged doji candlestick has long upper and lower shadows with opening and closing metals price at the middle. When the Long-legged doji pops up on a Metals chart it indicates indecision between metal traders, the buyer and the sellers.

Below is an example screenshot image of the Long Legged

• Doji metal chart pattern

Cross Doji Metal Candlestick

Cross doji has a long lower shadow & a short upper shadow & the open & close of the day is the same.

This metals trading pattern appears at market turning points and warns of a possible metals trend reversal in the metal market. Shown Below is as example of this chart formation

• Cross Doji Pattern

Inverted Cross Doji Metals Trading Candle

Inverted cross doji candles have a long upper shadow & a short lower shadow & the open & close is the same.

This reversal metals trading pattern appears at market turning points and warns of a possible metals trend reversal in the metal market. Shown Below is an example

• Inverted Cross doji

Technical Analysis in Metal Trading - All doji candlesticks pattern show indecision in the metal market this is because at the top of the buyers were in control, at the bottom the sellers were in control but none of them could gain control & at the close of the metal market the metals price closed unchanged at the same metals price as the opening metals price. This doji shows that the overall metals price movement for that day was zero pips or just a minimum range of 1-3 pips. Reading these charts patterns require very small pip movement between the opening metals price & closing metals price.