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this is where this pattern gets its name. Due to the long
wicks and the thin body (typically right in the middle of the
candle) this formation looks like a wooden top that
children often play with.
A pattern of this nature indicates indecision on the part of
buyers and sellers. The opening and closing prices are
quite similar even though prices have demonstrated quite
a bit of movement during the course of the candle’s time
frame.
Should this candle appear in an uptrend, it could indicate
that the buyers are potentially running out of steam and a
bearish move to the downside could ensue.
wicks and the thin body (typically right in the middle of the
candle) this formation looks like a wooden top that
children often play with.
A pattern of this nature indicates indecision on the part of
buyers and sellers. The opening and closing prices are
quite similar even though prices have demonstrated quite
a bit of movement during the course of the candle’s time
frame.
Should this candle appear in an uptrend, it could indicate
that the buyers are potentially running out of steam and a
bearish move to the downside could ensue.
