Reversal Candle Patterns - Hanging Man Candlestick Pattern

Hanging Man Candle Pattern

Hanging Man Candlesticks Pattern is a potentially bearish reversal xauusd trading signal that forms during a xauusd upward trend. Hanging Man Candle Pattern is named so because it resembles a man hanging on a noose up high.

A hanging man candlestick pattern 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

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

Technical Analysis of Hanging Man Candles Patterns

The sell trading signal is confirmed when a bearish xauusd candlestick closes below the open of the candlestick on the left side of this hanging man candlestick pattern.

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