The hanging man candlestick pattern looks identical to the hammer candlestick,
The only difference is where they appear.
While a hammer candle forms after a bear market,
The hanging man candlestick is formed after an uptrend.
It is taken as a signal that selling sentiment is increasing against
buyers,
So the reversal may be near.
Buyers were in control of the market but faced
Strong resistance.
However, this resistance only managed to keep the price below
control,
The price did not continue in the upward trend.
So, feelings may be about to change.
The Hanged Man candle is usually seen as red.
It is a stronger signal than the Hanged Man candle in color.
Green - Although both are considered patterns
bearish
