Spinning Tops Candlesticks Pattern and Dojis XAGUSD Candle Patterns

Spinning Tops Consolidation XAGUSD Candlesticks Pattern

Spinning tops candles pattern have a small body with long upper & lower shadows. These spinning tops are referred to by this name of spinning tops because they are similar to spinning top on a matchstick.

The upper and lower shadows of the spinning tops are longer than the body. The example explained and displayed below shows the spinning tops pattern. You can look for pattern in your MT4 Silver Trading Platform charts. The example explained and shown below shows a screenshot to help traders when it comes to learning and understanding these formations.

How to read candlestick xagusd charts - Spinning Tops

The color of the spinning tops candlestick is not very important, this formation show the indecision between the buyers and sellers in the xagusd trading market. When these xagusd patterns appear at the top of a silver trend or at the bottom of the silver trend it might signal that the silver trend is coming to an end & it may soon reverse and start going the other direction. However, it is best to wait for confirmation signals that the direction of a silver trend has reversed before trading the signal from this chart formation.

Candle Reversal Patterns Formations on Trading Charts

At the top of an upwards silver trend a black/red spinning tops shows that a reversal is more likely than when the color of the candlestick is white/blue.

At the bottom of a Silver downward silver trend a white/blue spinning top shows that a reversal is more likely than when the color is black/red.

This reversal silver signal is confirmed when the next candlestick pattern that forms after the spinning tops closes below the neckline for a downward silver trend reversal silver signal confirmation, and closes above the neckline for a reversal silver signal in a downward trend.

The neckline is:

• For an Upward Silver Trend - The open of the previous candlestick that was drawn just before the spinning top.
• For a Downwards Silver Trend - The open of the previous candlestick that was drawn just before the spinning top

Below is example of this Japanese charting techniques where this pattern has formed & how to trade it. On the trading chart below when the xagusd price moved above the neckline the reversal silver signal given by the spinning top candlestick was confirmed and this was a good point to exit the short sell xagusd trade transaction.

Spinning Top Pattern on a Chart

The color of spinning top formed is blue therefore meaning that a reversal was more likely as opposed to if the color had been red.

Doji Candlesticks Pattern

This is a pattern with same opening and closing xagusd price. There are various types of doji candle patterns that form on charts.

The following examples explain various patterns of the doji candle:

Long-legged doji candle has long upper & lower shadows with the opening and closing xagusd price at the middle. When the Long legged doji appears on a Silver chart it indicates indecision between xagusd traders, the buyer and the sellers.

Below is example screen shot image of the Long Legged

• Doji xagusd chart pattern

Cross Doji Silver Candle

Cross doji has a long lower shadow & a short upper shadow and the open & close of the day is the same.

This silver trading pattern appears at market turning points & warns of a possible silver trend reversal in the Silver. Shown Below is as example of this chart formation

• Cross Doji Pattern

Inverted Cross Doji XAGUSD Candle

Inverted cross doji candlesticks have a long upper shadow & a short lower shadow and the open & close is the same.

This reversal silver trading pattern appears at market turning points & warns of a possible silver trend reversal in the Silver. Shown Below is an example

• Inverted Cross doji

Technical Analysis in XAGUSD Trading - All doji candles pattern show indecision in the xagusd trading market this is because at the top of the buyers were in control, at the bottom the sellers were in control but none of them could gain control & at the close of the xagusd trading market the xagusd price closed unchanged at the same xagusd price as the opening xagusd price. This doji shows that the overall xagusd price movement for that day was zero pips or just a minimum range of 1-3 pips. Reading these charts patterns require very small pip movement between the opening xagusd price and closing xagusd price.