A spinning top is a candlestick pattern with a short real body that’s vertically centered between long upper and lower shadows. The candlestick pattern represents indecision about the future direction of the asset. It means that neither buyers nor sellers could gain the upper hand.
Identification: A spinning top is a candlestick pattern whose real body is small with long upper and lower shadows.
Occurrence: This pattern is formed when the buyers push the price up during a given time period, and the sellers push the price down during the same time period, hence ultimately the closing price ended up very close to the open price.
Study: After a strong price advance or decline, spinning tops can signal a potential price reversal if the following candle confirms the reversal. A spinning top can have a close above or below the open, but the two prices are always close together.