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Candlestick analysis: Difference between Doji and Spinning Top

Question for a student:

"I still dont see the real difference between spinning top and doji. They both basically need further confirmation. What am I missing?"

Spinning Top and Dojis are very similar and they mean the same thing: Doji indicates indecision. Spinning Top indicates greater indecision.

When looking at the two signals, the difference is in the body of the candle.

The Doji opens and closes around the same level (almost the same price).

The Spinning Top has a slightly bigger fluctuation between the opening and closing price, giving the body a bit more form.

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