How Can You Use a Spinning Top Candlestick Pattern in Trading?How Can You Use a Spinning Top Candlestick Pattern in Trading?
The spinning top candle is a key tool in technical analysis, highlighting moments of market indecision. This article explores what spinning tops represent, how they differ from similar patterns, and how traders can interpret them to refine their strategies across various market conditions.
What Does a Spinning Top Candlestick Mean?
A spinning top is a candlestick pattern frequently used in technical analysis. It consists of one candle with a small body and long upper and lower shadows of approximately equal length. The candle’s body symbolises the discrepancy between the opening and closing prices during a specified time period, while the shadows indicate that volatility was high and neither bulls nor bears could take control of the market.
This pattern signifies market indecision, where neither buyers nor sellers have gained dominance. It suggests a state of equilibrium between supply and demand, with the price oscillating within a narrow range. The spinning top may indicate continued sideways movement, particularly if it appears within an established range. However, if it forms after a bullish or bearish trend, it could signal a potential price reversal. Traders always look for additional signals from confirming patterns or indicators to determine the possible market direction.
It’s important to note that the spinning top candle is neutral and can be either bullish or bearish depending on its context within the price chart. The colour of the candle is not important.
Spinning Top vs Doji
Doji and spinning top candlesticks can be confused as they have similar characteristics. However, the latter has a small body and upper and lower shadows of approximately equal lengths. It indicates market indecision, suggesting a balance between buyers and sellers without a clear dominant force. Traders interpret it as a potential reversal signal, reflecting a possible change in the prevailing trend.
The doji candlestick, on the other hand, has a small body, where the opening and closing prices are very close or equal, resulting in a cross-like shape. If it’s a long-legged doji, it may also have long upper and lower shadows. A doji candle also represents market indecision but with a focus on the relationship between the opening and closing prices. Doji patterns indicate that buyers and sellers are in equilibrium, and a potential trend reversal or continuation may occur.
How Do Traders Use the Spinning Top Pattern?
Traders often incorporate the spinning top candle pattern into their analysis as a way to interpret moments of market indecision. Whether the pattern appears during a trend or at key turning points, its context plays a significant role in shaping trading decisions.
In the Middle of a Trend
When a spinning top forms in the middle of an ongoing trend, traders often view it as a signal of potential market hesitation. This indecision can indicate a pause in momentum, suggesting either a continuation of the trend or the possibility of a reversal.
Entry
In such cases, traders typically wait for confirmation of the next price move. A break above the high of the spinning top may signal the trend will continue upward, while a break below the low could suggest the trend may move down. Observing how subsequent candles interact with the spinning top can help a trader gauge the market’s intentions.
Take Profit
Profit targets might be aligned with key price levels visible on the chart, such as recent highs or lows. For traders expecting trend continuation, these targets might extend further, while those anticipating a reversal might aim for closer levels.
Stop Loss
Stop-loss orders might be set in accordance with the risk-reward ratio. This placement helps account for the pattern's characteristic volatility while potentially protecting against unexpected movements.
At the Top or Bottom of a Trend
When a spinning top forms at a significant peak or trough, it often draws attention as a potential reversal signal. This appearance may reflect market uncertainty after a prolonged uptrend or downtrend.
Entry
Confirmation from subsequent price action is critical. Traders typically observe if the price breaks above the candle (bullish spinning top) or below the candle (bearish spinning top) to determine the likelihood of a reversal.
Take Profit
Targets could be set at major support or resistance zones. A trader expecting a reversal may look for levels reached during the previous trend.
Stop Loss
Stops could be placed in accordance with the risk-reward ratio, allowing for the volatility often present at trend-turning points while potentially mitigating losses.
Remember, trading decisions should not solely rely on this formation. It's crucial to consider additional technical indicators, market trends, and risk management principles when executing trades.
Live Example
In the EURUSD chart above, the red spinning top candle appears at the bottom of a downtrend. A trader went long on the closing of the bullish candle that followed the spinning top. A take-profit target was placed at the closest resistance level, and a stop-loss was placed below the low of the spinning top candlestick.
There is another bearish spinning top candlestick pattern on the right. It formed in a solid downtrend; therefore, a trader could use it as a signal of a trend continuation and open a sell position after the next candle closed below the lower shadow of the spinning top candle.
A Spinning Top Candle: Benefits and Drawbacks
The spinning top candlestick pattern offers valuable insights into market indecision, but like any tool in technical analysis, it has its strengths and limitations. Understanding these might help traders use it more effectively.
Benefits
- Identifies Market Indecision: Highlights moments where neither buyers nor sellers dominate, providing a clue about potential price reversals or continuations.
- Versatile Across Trends and Markets: Can signal price consolidation, continuation, or reversal depending on its context. It’s also possible to use the spinning top across stocks, currencies, and commodities.
- Quick Visual Insight: The distinctive shape makes it easy to spot on charts without extensive analysis.
Drawbacks
- Requires Confirmation: On its own, the pattern lacks particular signals, needing additional indicators or price action for confirmation.
- Context-Dependent: Its reliability depends heavily on where it forms in the trend, making it less useful in isolation.
- Prone to False Signals: Market noise can produce spinning tops that do not lead to meaningful movements, increasing the risk of misinterpretation.
Takeaway
The spinning top candlestick reflects market indecision and suggests a potential reversal or consolidation. Traders use this pattern as a tool to identify areas of uncertainty in the market. Therefore, it's important to consider the spinning top pattern within the broader context and get confirmation from other analysis tools.
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FAQ
What Is a Black Spinning Top?
A black (red) spinning top is a variation of the spinning top candlestick pattern with a small body and equal-length shadows. This is different from the white (green) spinning top, as its body indicates a lower closing price. Traders analyse its context, technical factors, and confirmation from other indicators to interpret its significance.
What Is a Spinning Top Candlestick?
A spinning top candle meaning refers to a pattern characterised by a small body and long upper and lower shadows of roughly equal length. It reflects market indecision, where neither buyers nor sellers hold a clear advantage, and is often used in technical analysis to assess potential trend reversals or consolidations.
Is the Spinning Top Bullish or Bearish?
The spinning top candlestick pattern is neutral by nature. Its significance depends on the context within the price chart. When it appears at the end of an uptrend, it may signal a bearish sentiment, while at the end of a downtrend, it can indicate a potential bullish reversal.
What Does a Spinning Top Candle Indicate?
This pattern indicates a period of indecision and balance between buying and selling pressure. Depending on its position within a trend, it can signal consolidation, continuation, or a reversal in price direction.
What Is the Spinning Top Rule?
There is no fixed "rule" for spinning top trading. Traders typically look for confirmation from subsequent price movements or other technical indicators to decide on a course of action.
Is Spinning Top a Doji?
Although similar, spinning tops and doji candles differ. A spinning top has a small body with visible discrepancies between opening and closing prices, whereas a doji’s body is almost non-existent.
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Forextrading
EURUSD Triangle Breakout Setup
The price is forming an ascending triangle pattern, with a strong resistance level at the top and a rising trendline acting as support. A potential breakdown from this structure could lead to a bearish move.
Key Levels:
📌 Resistance: 1.0580
📌 Support: 1.0440
Expected Scenario:
🔻 A rejection from resistance followed by a break of the trendline could trigger a drop towards 1.0400 and lower.
🔻 Watch for confirmation before entering short positions.
Trading Plan:
✅ Wait for a clear breakout below the trendline.
✅ Look for bearish retest before shorting.
✅ Stop-loss: Above recent highs.
✅ Target: 1.0400 & below.
📉 Bearish Bias unless price breaks above resistance.
GJ | Still pushing downPrice is still trending down. I took a trade last night from the higher OB to the bottom of the range and it closed strong below the range. I will be looking for price to retrace back up into this 30M OB and will be watching lower time frame price action for confirmation to take it back down to the low. If price does not retrace back up that far and then continues to close below the current swing low, this trade will be invalidated.
Fri 28th Feb 2025 USD/SGD Daily Forex Chart Buy SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a USD/SGD Buy. Enjoy the day all. Cheers. Jim
Fri 28th Feb 2025 GBP/USD Daily Forex Chart Sell SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a GBP/USD Sell. Enjoy the day all. Cheers. Jim
Fri 28th Feb 2025 EUR/USD Daily Forex Chart Sell SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a EUR/USD Sell. Enjoy the day all. Cheers. Jim
EUR/USD Bullish Reversal Setup – Key Support at 1.0330-1.0367Overview:
The EUR/USD 8-hour chart presents a bullish reversal scenario, with price retracing after breaking an ascending channel. The market is approaching a critical Fibonacci retracement zone (1.0367 - 1.0330), which aligns with a strong support level. A bullish rebound from this area could push price towards the supply zone near 1.0700.
Key Technical Analysis:
Rising Wedge Breakdown: Price recently broke below the ascending wedge, signaling a short-term bearish move.
Fibonacci Retracement: The 0.5 (1.0367) and 0.618 (1.0330) levels act as potential reversal zones.
Support Zone: The market is approaching a demand area where buyers are likely to step in.
Reversal Expectation: A bullish bounce from the Fibonacci zone could lead to a strong move back toward the previous resistance area (1.0700 - 1.0750).
Trade Plan:
📌 Entry: Look for a long position near 1.0367 - 1.0330 after bullish confirmation.
🎯 Target 1: 1.0500 (Short-term resistance).
🎯 Target 2: 1.0650 (Intermediate target).
🎯 Target 3: 1.0700 - 1.0750 (Major resistance).
🛑 Stop Loss: Below 1.0300 to minimize risk.
Conclusion:
EUR/USD is testing a crucial Fibonacci support zone, and if buyers step in, a strong rally toward 1.0700 is likely. Traders should watch for bullish confirmations before entering long positions.
📈 Bullish Bias – Watch for a Reversal from Key Support! 🚀
USD/JPY Bearish Reversal Key Resistance & Fibonacci Target ZonesOverview:
This USD/JPY daily chart shows a potential bearish reversal setup after a break below key support and trendline structure. The pair has recently dropped below a critical demand zone (highlighted in green), which has now turned into resistance. The price is currently attempting a pullback, and a potential rejection from the resistance zone aligns with Fibonacci retracement levels, indicating a continuation of the downtrend.
Key Levels & Technical Analysis:
Previous Support Turned Resistance: The green zone represents a significant past support area that has now become resistance after a breakdown.
Trendline Break: The upward trendline that supported price action for several months has been broken, confirming bearish momentum.
Fibonacci Retracement Levels:
0.382 (151.265): A minor resistance level for a possible short-term rejection.
0.5 (148.979): A stronger resistance, aligning with structure.
0.618 - 0.786 (145.053 - 143.582): The ultimate bearish targets, coinciding with Fibonacci retracement extensions.
Bearish Projection:
The expected scenario suggests a short-term retracement towards the 151.265-148.979 resistance zone.
If the price faces rejection, a strong bearish continuation could target 145.053 and ultimately 143.582.
Trade Plan:
📌 Short Entry: Around 151.265 - 148.979 if price rejects resistance.
🎯 Target 1: 145.053 (0.70 Fibonacci)
🎯 Target 2: 143.582 (0.786 Fibonacci)
🛑 Stop Loss: Above 152.000 to invalidate the bearish setup.
Conclusion:
The overall sentiment for USD/JPY is bearish after breaking a key trendline and support level. Traders should watch for a pullback into the resistance zone, followed by a bearish rejection for a potential short trade. However, a break above 152.000 could invalidate this setup, shifting momentum back to the bulls.
📉 Bearish Bias Until Key Resistance Holds! 📉
Thu 27th Feb 2025 NZD/USD Daily Forex Chart Sell SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a NZD/USD Sell. Enjoy the day all. Cheers. Jim
USDCAD: Massive selling until the end of the year.USDCAD is neutral on its 1D technical outlook (RSI = 54.383, MACD = -0.003, ADX = 20.940) as it found support on the 1D MA100 and rebounded. We do believe howere that this bounce will be short lived as the pair hit the 9year resistance early this month and got heavily rejected. The first targets are the 1W MA50 and 1W MA100. We do expect it to hit the 0.786 Fibonacci (TP = 1.2600) by the end of the year as both prior highs on R1 aggressively declined to hit at least the 0.786 Fib.
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EUR/JPY – High-Probability Short Setup 1️⃣ Market Overview – Bearish Bias Confirmation
EUR/JPY remains in a strong downtrend, forming lower highs and lower lows. Currently, the price is retracing into a critical Fibonacci resistance zone, making this a prime opportunity to short the pair in line with institutional sentiment and seasonality trends.
2️⃣ Fibonacci Levels – Identifying Key Resistance
The Fibonacci retracement is drawn from the most recent bearish impulse.
Resistance Zone: 0.5 (156.888) to 0.786 (157.107) – a high-probability rejection area.
If price fails to break above this zone, a continuation to the downside is expected.
Prime Seasonality Insights – Historical Data Supports the Short Bias
📊 Seasonality trends over 15 years indicate that EUR/JPY historically declines in late February and early March.
🔻 February seasonality performance: -0.7% average return
🔻 Next 3-5 day forecast: Bearish probabilities (-0.06% to -0.21%)
🔻 Seasonality prediction candles show a short-term retracement, followed by downside continuation.
💡 This aligns with the technical setup, reinforcing a short bias.
4️⃣ Retail Sentiment – Smart Money Edge
🚨 79% of retail traders are LONG on EUR/JPY – a contrarian signal for a short trade.
🔻 Institutions (Smart Money) are aggressively shorting EUR/JPY, as seen in COT data.
🔻 Commitment of Traders (COT) Report shows increased institutional short positioning.
🔻 Retail traders trapped in longs will likely get stopped out, fueling further downside.
5️⃣ Technical Confirmation – Trendline & Indicators
✅ Price is below all major EMAs (6, 24, 72, 288) on the 4-hour chart.
✅ Supertrend remains bearish on the 4-hour timeframe.
✅ A downward sloping trendline aligns with the Fibonacci resistance zone.
💡 I will wait for confirmation (rejection wick, bearish engulfing candle) before entering a short position.
6️⃣ Conclusion – Trade Plan for EUR/JPY
🔹 Bias: Bearish due to downtrend, Fibonacci resistance, seasonality, and institutional short positioning.
🔹 Trade Setup:
Sell EUR/JPY at 156.88 - 157.10 (Upon rejection)
Stop Loss: Above 157.26
Take Profit Targets: 156.30, 156.04, 156.00
🔹 Key Confirmation: Retail traders are trapped in longs, seasonality supports further downside, and institutions are short.
🚀 This is a prime example of how combining Seasonality, Smart Money Positioning, and Technicals can create a powerful trade setup.
📌 What’s your outlook on EUR/JPY? Let’s discuss in the comments!
EURUSD: Sell trigger on the 4H MA50EURUSD is neutral on its 1D technical outlook (RSI = 55.966, MACD = 0.003, ADX = 17.727) as the price turned sideways in the past 2 weeks. The 4H MA50 is acting as the support of this Channel Up pattern. Even though the price hasn't yet made a technical HH, the 4H RSI is on a LH bearish divergence like the Jan 27th high. The signal to sell then came when the price closed a candle under the 4H MA50. If it happens again, the top will most likely be in, so go short and target the 0.786 Fibonacci retracement (TP = 1.02800).
See how our prior idea has worked out:
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GBPJPY STRONG BULLISH OPPORTUNITY 1. Range-Bound Market Assumption
The analysis assumes that price is bouncing between a horizontal range (support and resistance).
However, ranges don’t last forever—a breakout or breakdown is inevitable.
Instead of expecting a structured bounce, a fake breakout or a liquidity grab could occur.
2. Support Zone Over-Reliance
The expectation of multiple support bounces is risky because:
The more times price tests support, the weaker it becomes.
A stop hunt scenario could push price below support before reversing.
If buyers don’t step in with strong momentum, a breakdown might be more likely than the predicted bullish move.
3. Resistance Breakout Bias
The projection shows a clean breakout above resistance after consolidation.
However, GBP/JPY is highly volatile, meaning:
A fakeout above resistance could trap buyers before reversing.
A rejection at resistance might cause a sharp drop instead of a rally.
4. Missing Volume & Trend Confirmation
No volume analysis is provided—breakouts need high volume for confirmation.
No higher time frame confirmation (1H, 4H) is shown, making it unclear whether the trend is truly bullish or just ranging.
Alternative View
Instead of assuming a smooth upward breakout, consider:
Bearish Scenario: A false breakout above resistance followed by a strong reversal.
Liquidity Grab: A dip below support before an actual reversal.
Wait for confirmation: If price closes above resistance with volume, a buying opportunity is stronger
ETHUSD surely analysis 1. Support and Resistance Reliability
The analysis assumes a strong support zone at the lower level and a firm resistance at the top.
However, support and resistance levels are not static—they can be invalidated if momentum is strong
If the price revisits support too many times, it could break down instead of bouncing.
2. Repetitive Range-Bound Expectation
The chart predicts multiple rejections at the middle resistance before a breakout.
Markets don’t always behave in such a predictable pattern—sideways action could lead to a sudden breakdown instead of a breakout.
3. Lack of Volume & Trend Confirmation
There's no volume analysis to confirm if support and resistance levels are strong.
A higher time frame (1H or 4H) analysis would help validate if this is just consolidation or a genuine trend reversal.
4. Breakout vs. Fakeout Possibility
The projection assumes a clean breakout above resistance.
However, many breakouts turn into fakeouts, where price moves above resistance, traps buyers, and then reverses sharply.
A liquidity grab above resistance could lead to a drop instead of a rally.
Alternative Perspective
Instead of assuming a clear upward movement, consider two scenarios:
1. Bullish Case: If volume supports the breakout, enter after a successful retest of resistance as support.
2. Bearish Case: If the breakout fails (fakeout), expect a retest and breakdown, leading to a lower support level
Btcusd strong sell 1. Resistance and Selling Zone:
The chart assumes that the marked resistance level will cause a strong rejection and lead to a downward movement. However, resistance levels can break if buying pressure is strong, leading to a breakout instead of a drop.
The selling zone marked might not be as strong as assumed, especially if there is high bullish momentum.
2. Bearish Projection Bias:
The analysis is heavily biased toward a bearish outcome, predicting a strong move down. However, Bitcoin is known for its volatility, and market sentiment can shift quickly.
The projection doesn’t account for potential bullish catalysts such as news, institutional buying, or unexpected support from higher time frames.
3. Support Level Stability:
While the support level is marked, there is no confirmation that it will hold. If too many traders expect it, it could be invalidated by a deeper move down.
It also lacks reference to volume analysis, which is crucial for confirming strong support or resistance.
4. Short Time Frame Limitations:
The chart is based on a 15-minute time frame, which can be misleading due to short-term noise.
A higher time frame analysis (1-hour or 4-hour) should be considered to confirm major trends.
5. Missing Confirmation Factors:
No indicators like RSI, MACD, or volume analysis are included to support the downtrend thesis.
Lack of candlestick pattern confirmation—just touching resistance doesn’t always mean reversal.
Alternative View:
Instead of expecting a direct rejection, a potential breakout scenario should be considered.
A fakeout above resistance could trap early sellers before a real move occurs.
GOLD (XAU/USD) – Breakout or Deeper Pullback?Hello, Traders! 👋
What are your thoughts on gold?
Gold remains in a robust uptrend, with each downturn providing a buying opportunity inside the trend.
The ideal strategy at this point is to wait patiently for a price pullback to support levels before starting a buy position.
Another method is to wait for a break above the most recent high before buying on a pullback to the broken level.
The bullish trend continues, but trades must be performed with correct risk management and confirmation indications.
What is your opinion on gold? Do you anticipate further growth?
🚀 GOLD (XAU/USD) – Breakout or Deeper Pullback? 🔥
💰 Gold Spot (XAU/USD) - 8H Chart Analysis
🔍 Market Insights:
🔹 Strong Uptrend: Gold continues to hold its bullish momentum, respecting the ascending trendline.
🔹 Key Resistance Zone: The $2,945 - $2,960 area has been acting as a supply zone (black box).
🔹 Fibonacci Support: Price recently tested the 0.236 Fib levels ($2,902 & $2,871), which align with a key demand zone (yellow box).
📈 Two Potential Scenarios:
📌 Bullish Breakout: If price holds above the trendline & reclaims resistance, we may see a breakout towards $2,980 - $3,000 🚀.
📌 Deeper Pullback: If support breaks, we could see a correction to $2,875 - $2,850 before a stronger reversal.
📊 Key Levels to Watch:
✅ Support: $2,902 - $2,871 (Fib Levels & Trendline)
✅ Resistance: $2,945 - $2,960 (Supply Zone)
💬 Do you think gold will break out or dip before the next leg up? Drop your thoughts below! 🔥👇
#gold #xauusd #forex #trading #priceaction #technicalanalysis
XAUUSDHello Traders! 👋
What are your thoughts on GOLD?
Gold remains in a strong uptrend, and every pullback presents a buying opportunity within the trend.
The best approach at this stage is to wait patiently for a price correction to support levels before entering a buy position.
Another strategy is to wait for a break above the recent high and then enter a buy trade on a pullback to the broken level.
The bullish trend remains intact, but trade entries should be executed with proper risk management and confirmation signals.
What’s your outlook on gold? Do you expect further upside?
Don’t forget to like and share your thoughts in the comments! ❤️
BTCUSDTBTCUSDT is still in an uptrend. There may be a correction at this time. If the price cannot break through the 107279 level, it is expected that in the short term, there is a chance that the price will drop. Consider selling in the red zone.
🔥Trading futures, forex, CFDs and stocks carries a risk of loss.
Please consider carefully whether such trading is suitable for you.
>>GooD Luck 😊
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Gold buy target This chart represents a trade setup for Gold Spot (XAU/USD) on a 2-hour timeframe using technical analysis. The analysis includes key trading levels:
Entry Point (Yellow - 2,938.690): The planned entry price for a buy (long) position.
Stop Loss (Red - 2,927.485): The price level to limit losses if the trade goes against the trader’s expectation. If the price drops to this level, the position will be automatically closed to prevent further losses.
Target (Blue - 2,962.046): The price level where the trader aims to take profit. If the price reaches this level, the position will be closed to secure gains.
Analysis & Strategy:
The setup anticipates a bullish move, expecting the price to rise from the entry level to the target.
The stop loss is placed below a support zone to minimize downside risk.
If the price respects support and bounces, the trade aims to capture a significant upward move toward the target price.
The risk-to-reward ratio appears favorable, meaning potential profits outweigh the risk taken.
This setup follows a technical breakout or reversal strategy, aiming to capitalize on a potential price increase in gold.
Master Your Emotions: The 3 Trading Psychology Hacks Most traders don’t struggle because they lack a strategy—they struggle because emotions get in the way. After coaching hundreds of traders, I’ve seen the same patterns over and over: hesitation, FOMO, revenge trading, and self-doubt.
I get it. I’ve been there too. You see the perfect setup but hesitate. Or worse, you jump in too late and watch the market turn against you. It’s frustrating, but there’s a fix.
In this video, I’m breaking down the biggest trading psychology mistake I see and the simple 3-step process that has helped my students trade with confidence, even in the most volatile markets.
If you’ve ever felt like your emotions are sabotaging your trades, this is for you. Let’s fix it.
Kris/Mindbloome Exchange
Trade Smarter Live Better
GBPJPY: Channel Down on its new bullish wave.GBPJPY is bearish on its 1D technical outlook (RSI = 41.292, MACD = -0.960, ADX = 36.514) as since the February 13th LH and rejection near the 1D MA50, it was been on its new bearish wave. The 1D RSI doesn't give a buy signal until it hits its S1 Zone, so we remain bearish on this pair with a typical TP = 185.500, unless the RSI hits S1 first, in which case you'll be encouraged to take profit earlier.
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AAPLAAPL price is in a correction phase. Now the price is near the resistance zone. If the price cannot break through 259, it is expected that the price will drop. Consider selling the red zone.
🔥Trading futures, forex, CFDs and stocks carries a risk of loss.
Please consider carefully whether such trading is suitable for you.
>>GooD Luck 😊
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