The Spinning Top candlestick pattern is similar in appearance to the Evening Star and the Morning Star patterns, except that it is a single candlestick pattern and need not gap away from the previous candlestick. Like the Evening Star or Morning Star, it is a candlestick reversal pattern that with a relatively small real body and an upper and lower shadow that is longer than the length of its real body. The Spinning Top indicates a period of indecision. Because of its small real body, the color of the Spinning Top not important but its location on the chart is important.
The Spinning Top is a bearish reversal pattern when it appears in an existing uptrend and signals the potential end of that trend and a possible reversal. Confirmation is achieved when the candle the follows the Spinning Top closes lower than the Spinning Top and the candle that preceded the Spinning Top.
Conversely, the Spinning Top is a bullish reversal pattern when it appears in an existing down trend and signals the potential end of that trend and the possible start of a bullish reversal. Here confirmation is achieved when the candle the follows the Spinning Top closes higher than the Spinning Top and the candle that preceded the Spinning Top.
Note that the Spinning Top must appear in an existing trend for it to signal a possible trend reversal. If it appears during a consolidation phase of the market, it is of no significance and is best ignored.