Spinning Top Candlestick Pattern | The Best Forex EA Bot

Alan Solosh here, the passive income guru in this video tutorial explains to you the spinning top candlestick formation.

Right? So as you can see, this is what a spinning top looks like, hence the name looks like a spinning top. And it means that the open and close of the, of the open price and the closed price were very close together, hence forming a body. Okay? So depending on how you set your chart up, either this will be the bullish candle or this will be the bearish candle. So a small body has a very small body with longish shadows. It means that. So the candle there was quite a large range that the price traded in for that day, but there was quite a bit of indecision with that with the price. Hence a small body is formed. But there are long wicks indicating. And those are the shadows, the long wicks. Okay, so the direction of the, of the trade will be shown in the following days.

Next day, or the following days to come. So let's go and have a look at it and decide what you should do on the forex chart, for example. So let's look at gbpjpy and as you can see over here, on this day specifically on the 22nd of September, you can see that there is a spinning top over there. There's a spinning spinning top over there. There's followed by a doji, another spinning top, and then the following day we go into a bullish trend. So as you can see here is a perfect example of the doji.

And two spinning tops. And then the next day we have another spinning top in a bearish, bearish trend. And then, sorry, a bullish trend. And then we go into a full bullish trend. And then we pan out over here. So this, this move over here, if you just follow the candlesticks and you open.

Let'S see what the, what the move is over there. It's 134 pips that you would have gained, which is a massive, massive profit that you would have made if you just followed the signal of the doji and then the spinning tops. Okay, so let's, let's have a look at some more. Let's go and find some more. Okay, here's a perfect example. Let's wait for the chart to settle down. So here's your spinning top.

Over here. So there is your spinning top. And we're going into a bullish trend there on this day over here, it jumps above the 8 exponential. And then you are then following this trend all the way up to your next doji over there, where there's your signal to get out. You know, as we know, rule of thumb, when you see a doge at the top, you take your profits and you get out of the trade. You can always jump back in if you've made a mistake, if it is a false positive. Let's give you an example. So here's an example over there of a spinning top. There's a, there's a doji over there above the 8 exponential moving average which could be a false positive as it was. So you could have gotten out of the trade, of the trade and then two days later jumped back into the trade or three days later jumped back into the trade and made this massive move over here getting, seeing another spinning top, losing a bit of momentum. And there's your doji over there getting out or going, doing a bearish, bearish trade and then taking this full movement all the way down. So as you can see, the spinning top and the, the doji working together, giving you a fantastic edge on the market, giving you, you know, telling you exactly what's happening, showing you the sentiment of the, of the price for, for that moment. So here we're trading on a four hour chart. So it will give you a good indication of what is happening with the currency for that day and then you can take heed not making any emotional decisions. So let's just check what the trade would have been like if you had gotten in just above the 8 exponential and then gotten out over here. It's a 442 pip move for, for. That's for this period, which is absolutely huge. So if you, if you got out over there when the doji where the doji was, you, you would have made 330, you would make 322 pips. And if you got back into the trade over here where it closed above the 8 exponential and then you got out on the doji, you would have made another 780, 86 pips in total, which is, which is absolutely huge. So they're relying on the candlesticks. Gives you a massive, massive advantage. Highly recommend that you lose, that you use these tools, learn the signals, stop making emotional decisions and you'll see that you'll be cutting your losses short and letting your profits run the full length of the trend. And that's exactly what you want to do. So I hope that you like this video. If you like this video, please mouse over this video. In the top left hand corner is my, is the icon to YouTube. Click on that icon. It will take you to YouTube and just scroll below the video on YouTube and click on the subscribe button. On the right of the subscribe button is a bell icon. Click on the bell icon. Underneath that is a thumbs up icon. Click on that and also leave a positive feedback as well as your Bitcoin wallet address in the comment section. Because I give away 0.005 of a Bitcoin every single Friday and you could be the lucky winner of that prize. So good luck for that and I'll see you on the next video.

You know that I'm doing right.

You know that I'm doing right.