Hanging Man Candlestick Patterns - How to Analyze Hanging Man Bearish Candles Pattern

Hanging Man Candlestick Pattern

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

A hanging man candle pattern has:

• A small body
• The body is at the top
• The lower shadow is 2 or 3 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

How to Trade Hanging Man Candlesticks Patterns - How to Analyze Hanging Man Candles Pattern

Technical Analysis of Hanging Man Candles Patterns

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

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