What is spinning
top candlesticks?
Spinning
top candlesticks must have visible small body.
Candle
should be less than half of the total size of the candle. But here you have to
also consider that the body of the candle should be more than five percent of
the total candle size that means the body of the candle should be more than
five percent of candlestick size and less than half or fifty percent of the
total candlestick size.
Both
the upper and lower wick must be nearly of the same size.
Candle
color does not matter. It means the candle color or the body color of the
spinning top candle may be green or maybe red it does not matter because the
color of the candle does not have any significance on the price action.
What it means in
the chart ?
Spinning
top means indecision.
It does not signify any kind of trend continuation on reversal itself.
Spinning top is
divided in three categories
First
category is that one single candle within trend means indecision. After
appearance of one single candle that trend may continue or get reversed it can
do anything.
The
second point is that 2-3 spinning top at the same price level means selective
trend continuation or reversal based on historical support and resistance
position and this is a new concept according to the modern price action.
That
if you see 2-3 spinning top candle at the same price level then with the help
of historical support resistance point you may get an understanding that if the
price is going to be reversed or if the trend is going to be continued.
The
third type is that three or more than three spinning top candle at the same
price level defines a new support and resistance zone in that new level this is
also a new concept which was not available in the traditional price action and
it has been included in the modern price action technique.
Bearish Tri-Star
The
bearish tri star candlestick pattern is an uptrend candlestick pattern.
It
is made up of three doji candles.
The
first and third candlesticks are roughly on the same level, while the central
candlestick is above them. This pattern indicates that the uptrend has weakened
and that a bearish or downside reversal is likely as a result of the three doji
candles.
The
formation of a tri star bearish pattern on the chart is a very strong signal,
and it is important to pay attention to it.
Tri-Star
Bullish
A
Tri-Star bullish is a downtrend candle design
It
comprises of three doji candles
The
first and third candles are around on similar level with the second beneath
them this example shows a debilitating of the downtrend in all probability the
cost will make a bullish inversion and start to ascend after the fall because
of the three candles doji.
A
tri-star bullish gives a solid sign, in the event that this example shows up on
the diagram you ought to focus on it.
0 Comments