Hanging Man - Tutorial

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Hanging Man

Description

This reversal pattern is considered one of the 12 major candlestick signals. It is considered highly reliable.

In an upward trend, it is a pattern of one candle. It is a small real body with a shadow two times longer than the body, poised at the upper end of the trading range. (black body would be a bearish bias) Selling is apparent, and a black candle or lower open the next day would confirm this as a possible reversal.

This real body has no upper shadow, or a very small one. Confirmation is needed the following day.

Market Opinion

Bearish.

Pattern

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