It basically looks like a vertical rectangle. In Forex, Marubozu is simply a long candlestick with no upper or lower shadow (or wick) and can appear anywhere on the chart. So what do you think it means for our candlestick? In Japanese, the word “marubozu ” translates to “bald head” or “shaved head”. Sounds like an African clan or that we are about to teach you some Voodoo spells, but worry not. Now let’s see what a spinning top looks like on an actual Forex chart. If a spinning top forms during a downtrend, this usually means there aren’t many sellers left and a possible reversal in direction could occur.If a spinning top forms during an uptrend, this usually means there aren’t many buyers left and a possible reversal in direction could occur.The small real body (hollow or filled, green or red) shows little movement from open to close, and the shadows indicate that both buyers and sellers were fighting but nobody could gain the upper hand so the result was a standoff. What does a spinning top look like in Forex? The Forex spinning tops are named after them simply because they share the same body structure. This candlestick pattern indicates uncertainty in the market and therefore indecision between the buyers and sellers. Free Save my progress What is a spinning top?Ī spinning top is a candlestick pattern with a short real body that’s vertically centered between long upper and lower shadows.
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