Hanging Man Candlestick Pattern |

Hanging Man Candlestick Pattern | #stockmarket #candlestick
What Is the Hanging Man Candlestick Pattern?
The Hanging Man candlestick pattern is characterized by a short wick (or no wick) on top of a small body (the candlestick), with a long shadow underneath. If the candlestick is green or white, the asset closed higher than it opened. If it is red or black, it closes lower than it opened.
Candlestick pattern traders believe the Hanging Man is a bearish reversal indicator.
The Hanging Man is a type of candlestick pattern that refers to the candle's shape and appearance and represents a potential reversal in an uptrend.
Candlesticks display a security's high, low, opening, and closing prices for a specific time frame and reflect the impact of investors' emotions on prices.
The Hanging Man occurs when two criteria are present: an asset has been in an uptrend, and the candle has a small body and a long lower shadow.
Understanding the Hanging Man
The Hanging Man is a single candle stick pattern. Because it is a reversal pattern, there must be a trend of some length before the appearance of the pattern. The market doesn't need to be in a long uptrend, but there must be a recognizable price rise preceding the pattern.
Four points are used to form a candlestick-the high, opening, closing, and low prices. The wick on top represents the high price, and the candle's body is formed using the open and close prices. The shadow is formed by the low price for the period.
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