Hanging Man Candles Patterns - Hanging Man Bearish Forex Candle Pattern

Hanging Man Candles Pattern

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

A hanging man candlesticks 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

Hanging Man Candlestick Pattern - How to Trade Hanging Man Candles Patterns

Forex Analysis of Hanging Man Candles Patterns

The sell trading signal is confirmed when a bearish forex candlesticks closes below the open of the forex candlesticks on the left side of this hanging man candle sticks pattern.

Stop Loss orders should be placed a few pips just above the high of the hanging man candle-sticks pattern.