spinningtops

Candlesticks with long upper shadows, long lower shadows and wee little bodies are called spinning tops.

Spinning tops mean indecisive traders (headless chickens). The small body means there was little price action from open to close, and the shadows indicate that both bulls and bears were in the market during the time period.

Although the session opened and closed with little change, prices moved quite a bit higher and lower in the period. But neither buyers nor sellers won and the result was a draw. After a bull run, a spinning top suggest weakness among the bulls and a potential reversal. After a downward trend, a spinning top indicates weakness among the bears and a potential trend reversal.