Hanging Man Candle Patterns Technical Analysis - How to Analyze Hanging Man Bearish Candles Pattern

Hanging Man Candle Pattern

Hanging Man Candles Pattern is a potentially bearish reversal signal that forms during a forex uptrend. Hanging Man Candle Pattern is named so because it resembles a man hanging on a noose up high.

A hanging man candlestick pattern has:

• A small body
• The body is at the top
• The lower shadow is 2 or 3 times length of real body.
• Has no upper shadow or very small upper shadow if present.
• The color of the body is not important

How to Trade Hanging Man Candles Patterns Technical Analysis Tutorial - How to Analyze Hanging Man Candles Pattern

Technical Analysis of Hanging Man Candles Patterns

The sell signal is confirmed when a bearish candlestick closes below the open of the candle on left side of this hanging man candle pattern.

Stop Loss orders should be placed a few pips just above the high of the hanging man candle pattern.