Spinning Tops Candles Pattern and Dojis Crude Oil Candle Patterns

Spinning Tops Crude Oil Trading Candle Patterns

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

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

How to read candle crude oil charts - Spinning Tops

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

Candle Stick Reversal Patterns Formations on Trading Charts

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

At the bottom of a Oil Trading downwards oil trend a white/blue spinning top shows that a reversal is more likely than when the color is black/red.

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

The neckline is:

• For an Upwards Oil Trading Trend - The open of the previous candle that was drawn just before the spinning top.
• For a Downward Oil Trading Trend - The open of the previous candle that was drawn just before the spinning top

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

Spinning Tops Pattern on a Chart

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

Doji Candles Pattern

This is a pattern with the same opening & closing oil price. There are various types of doji candlestick patterns that form on charts.

following example show various patterns of the doji candle:

Long-legged doji candle has long upper & lower shadows with opening & closing crude oil price at the middle. When the Long legged doji pops up on a Oil chart it indicates indecision between crude oil traders, buyer & the sellers.

Below is an example screenshot image of the Long Legged

• Doji crude oil chart pattern

Cross Doji Oil Trading Candlestick

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

This oil trading pattern pops up at market turning points and warns of a possible oil trend reversal in the Oil Trading. Below is as example of this chart formation

• Cross Doji Pattern

Inverted Cross Doji Crude Oil Candle

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

This reversal oil trading pattern pops up at market turning points and warns of a possible oil trend reversal in the Oil Trading. Below is an example

• Inverted Cross doji

Technical Analysis in Crude Oil Trading - All doji candlesticks pattern show indecision in the crude oil 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 and at the close of the crude oil market the crude oil price closed unchanged at the same crude oil price as the opening oil price. This doji shows that the overall crude oil 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 crude oil price & closing oil price.