Hanging ManA Hanging Man candlestick is a reversal candlestick pattern with long lower shadow and no upper wick. They are bearish in nature.They typically appear at the end of an up trend. They have a small real body at the upper end of the candle. The body may be black or white. They have a long lower wick which is double the height of the real body. The upper wick may be absent or very short. The market opens and continue their up trend. At the upper end of the trend the buying ceases. The trend reverses and the supply increases pulling the price lower. But the ongoing trend pushes the price again to close near the opening or little above. Next day's price movement confirms whether the trend is reversed or continuing. A black bodied hanging man candlestick is more bearish than a white bodied hanging man.
Candlestick with similar features, when they appear at the end of a down trend are called as Candlestick Hammer which are bullish in nature. So the name changes depending on, whether they appear at the end of an up trend or a down trend. Click here to go from Hanging Man to Candle chart Click here to go back to Home |
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