Reversal Stock Candle Setup Patterns - Hanging Man Candlestick Pattern
Hanging Man Candlestick Pattern
Hanging Man Candlesticks Pattern is a potentially bearish market reversal setup which occurs during a upward trend. Hanging Man Stock Candle Pattern is named and called so because it looks like 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 the length of real body.
- Has no upper shadow or has a very small upper shadow if present.
- The color of the body isn't important
How Do I Trade Hanging Man Candlesticks Setup Patterns - How to Analyze Hanging Man Candlesticks Pattern
Analysis of Hanging Man Candlesticks Patterns
The sell signal gets to be confirmed when a bearish candlestick closes below the open of the candlestick to the left side of the hanging man candle pattern setup.
Stop Loss orders should be set a few pips just above the high of the hanging man candle pattern setup.
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