Is Hanging Man Stock Indices Candle Pattern Bullish or Bearish?

Hanging Man candlesticks pattern is a potentially bearish reversal stock indices signal which occurs during a upwards indices trend. It's named so because it looks like 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 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? - Hanging Man Candlestick Bearish Pattern

Technical Analysis of Hanging Man Stock Indices Candlesticks

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

Stop Loss orders should be set a few pips just above the high of the hanging man candlestick once a trader opens a trade based on this candles pattern formation.