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Is Hanging Man Stock Indexes Candlestick Pattern Bullish or Bearish?


Hanging Man candlesticks pattern is a potentially bearish reversal stock indices signal that occurs during a upward indices trend. It is named so because it resembles a man hanging on a noose up high.


A hanging man candlestick has:


  • A small body

  • The body is at the top

  • The lower shadow is two or three times the length of the real body.

  • Has no upper shadow or very small upper shadow if present.

  • The color of the body is not important

What Happens in Indices Trading after a Hanging Man Indices Candlesticks Pattern?

What Happens in Indices Trading after a Hanging Man Indices Candlesticks Pattern? - Hanging Man Candlestick Bearish Pattern


Technical Analysis of Hanging Man Candlesticks

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


Stop loss orders should be place a few pips just above the high of the hanging man candlestick once a indices trader opens a trade based on this candlesticks pattern formation.

 

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