Forex Signal Bullish

What is the difference between Doji and Spinning Top candles?

In technical analysis, both Doji and Spinning Top are candlestick patterns that represent periods of market indecision, but they have some differences in their formations and implications. Here’s a detailed comparison:

Doji Candlestick

  1. Formation: A Doji candlestick forms when the open and close prices are virtually the same, resulting in a very small or nonexistent body. The shadows (wicks) can vary in length.
  2. Appearance: It looks like a cross or a plus sign. The length of the shadows can vary, leading to different types of Doji candles (e.g., Long-Legged Doji, Gravestone Doji, Dragonfly Doji).
  3. Indecision: The Doji indicates a strong indecision in the market, suggesting that neither buyers nor sellers were able to gain control.
  4. Trend Reversal: Often interpreted as a potential reversal signal, especially if it occurs after a strong uptrend or downtrend. However, it needs confirmation from subsequent candles.

Spinning Top Candlestick

  1. Formation: A Spinning Top candlestick forms when the body is small, with the open and close prices relatively close to each other, but the shadows are longer, indicating significant price movement in both directions.
  2. Appearance: It has a small body with long upper and lower shadows, looking somewhat like a top. The body is typically centered within the range of the candle.
  3. Indecision: Indicates indecision in the market, but the presence of longer shadows suggests that there was significant trading activity and volatility during the period.
  4. Trend Reversal/Continuation: Can indicate a potential reversal or continuation of the current trend. Its interpretation depends on the context and the preceding price action. Like the Doji, it needs confirmation from following candles.

Key Differences

  • Body Size: A Doji has a very small or nonexistent body, while a Spinning Top has a small but noticeable body.
  • Shadows: While both can have long shadows, the Doji’s defining characteristic is its tiny body, whereas the Spinning Top is characterized by its small body and relatively long shadows.
  • Market Indecision: Both indicate indecision, but the Doji suggests a stronger level of indecision compared to the Spinning Top due to the almost identical opening and closing prices.


  • Doji: If a stock opens at $50, trades as high as $55 and as low as $45, but closes again at $50, it forms a Doji.
  • Spinning Top: If a stock opens at $50, trades as high as $55 and as low as $45, but closes at $51, it forms a Spinning Top.

Both patterns are used by traders to gauge market sentiment and potential future movements, but they should be used in conjunction with other technical analysis tools and indicators for more reliable predictions.