After a price advance, a hanging man is a bearish reversal candlestick pattern. The advance can be little or significant, but it must include at least a few price bars that are moving higher overall. The candle must have a small true body and a long bottom shadow at least twice its size.
A negative financial candlestick pattern that indicates a possible upward reversal.
Taking a transaction near the hanging man's closing price or the open of the next candle is a more aggressive option. Place a stop-loss order above the hanging man candle's high point.
A red bearish Hanging Man candlestick is formed when the high and open are the same. When the high and close are the same, forming a green Hanging Man, this pattern is considered a stronger bearish sign.
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And Traders are i) position trader (ii) Swing Trader (iii) Day trader (iv) Scalper Trader
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