Bullish Spinning Top

Bullish Spinning Top




Spinning top patterns can be a good sign of indecision starting to appear in the market due the long upper and lower wicks doesn’t result in any real change in price between the candle open and close.

The bullish Spinning top pattern is a lot like the bullish hammer in the sense that occurs during the end of a down trend. This sort of formation can be associated with the bears have ran out of steam, and the bulls are ready to take over. However, when talking about whether the fight is over between the bulls and bears, it is always a tight battle.

During the course of a trading day, there might be a few Spinning top but there are certain characteristics to look out for when trying to spot a bullish Spinning top pattern.

bullish Spinning top pattern

 

 

 

The bears have had price going their way for a while, the bulls have been trying to end the market but the bears were just too strong, finally the bulls wrestled back control of price and on to an uptrend.

 

 

 

 

bullish Spinning top pattern

 

 

 

We can see here the overwhelming strength of the bears, when price reaches a low in the market, the bulls have managed to take control, but not at first as a struggle still takes place in the next candle as the bears are still showing strength and wanting to take price further down, the bulls summon their strength to edge price up.

 

 

 

 

bullish Spinning top pattern

 

 

The bears have been in control taking price lower and finally the bulls come in, a struggle still takes place a few candles along and an uptrend is still not certain.

 

 

 

bullish Spinning top pattern

 

 

Looks like the bulls have come in at the right time, when the bears had used up all the strength to move price lower, the bulls wrestle full control and take price right back up and beyond.

 

 

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