🕯️ Spinning Top candle – What It Means!?
A spinning top has:
1. Small body (open ≈ close)
2. Long upper and lower wicks
What it shows? It shows indecision between buyers and sellers after a previous move.
Ok, so what we can learn from it?
📉 We can learn how to Trade a Spinning Top candle!
THIS IS A SHORT SETUP (if confirmation follows)
Confirmation candle: A bearish candle that closes below the spinning top’s low ($106,407)
Entry: ~$106,350–106,400 (after breakdown)
Stop Loss: Above the high of the spinning top: $107,350
Take Profit: $103,800 (deeper pullback near EMAs)
Probability: 65/35 bearish if next candle confirms rejection.
Enough theory, see yourself!
A spinning top has:
1. Small body (open ≈ close)
2. Long upper and lower wicks
What it shows? It shows indecision between buyers and sellers after a previous move.
Ok, so what we can learn from it?
📉 We can learn how to Trade a Spinning Top candle!
THIS IS A SHORT SETUP (if confirmation follows)
Confirmation candle: A bearish candle that closes below the spinning top’s low ($106,407)
Entry: ~$106,350–106,400 (after breakdown)
Stop Loss: Above the high of the spinning top: $107,350
Take Profit: $103,800 (deeper pullback near EMAs)
Probability: 65/35 bearish if next candle confirms rejection.
Enough theory, see yourself!
Note
Spinning Top Setup Status: INVALID1. Next 1H candle body closed inside the spinning top range.
2. No confirmation of breakdown.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.