What is a spinning top candlestick?
The spinning to is a neutral pattern consisting of a short body with long wicks. This candle shows less indecision then the doji, which is a reversal pattern, which means it should be used as more of a consolidation candle in a trend and following candles should be watched closely as neither the buyers or sellers are in control. After a spinning top has formed there is a high probability for a trend to breakout in either direction due to the low volatility shown by the spinning top. Spinning tops are often formed when fundamental news is due causing the market to consolidate in anticipation for the news before the new trend is formed.