What's a Hanging Man Candlestick in XAUUSD?
What Does Hanging Man Candlestick Mean? - Hanging Man Candle Definition
Hanging Man xauusd candles pattern is a potentially bearish reversal xauusd trading signal that forms during a xauusd upwards 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's Hanging Man Candlestick in XAUUSD? - Hanging Man Candlestick Pattern
XAUUSD Candles Pattern
The sell trading signal is confirmed when a bearish candle closes below the open of the candle on the left side of this hanging man candlestick pattern.
Stop orders should be set few pips just above the high of hanging man candlestick.
