Spinning Tops
Spinning tops have small bodies but very long lower and upper wicks. The small body implies that there is little difference between the opening and closing prices, while long wicks imply that prices reached extremes in both directions. Spinning tops show that buyers and sellers had a tussle within the time period, with neither group gaining any particular advantage.
Marubozu
Marubozu candlesticks have long bodies but have no wicks. This means that a green Marubozu will have a similar open and low price as well as a similar close and high price. A green Marubozu is an indication that bulls were in complete control during that particular time period. On the other hand, a red Marubozu will have a similar open and high price as well as a similar close and low price. A red Marubozu indicates that bears were in complete control during that time period.
Doji
Doji candlesticks have long wicks but virtually non-existent bodies. This means that opening and closing prices are practically similar. Doji candlesticks denote that neither buyers nor sellers were able to gain an edge during any particular time period. Still, there are different types of doji candlesticks that may provide different alternative price action stories, depending on the position of the wicks.
Hammer
The hammer candlestick has a small body at the upper end of the trading range and a long lower wick. It forms during a downtrend and indicates that sellers tried to push the prices lower, but buyers stepped in to drive prices to near the opening price. The sellers ‘literally’ hammered out a bottom in the market. The hammer candlestick is an indication that buyers are ready to take charge of subsequent time periods.
