🔥 WHAT IS HANGING MAN ????

The Hanging Man candlestick is a bearish reversal candlestick pattern that forms at the top of an uptrend or in a bullish market. It's a single candle that signals a potential reversal to the downside.

Here are the key characteristics of a Hanging Man candle:

1. Forms at the top of an uptrend or in a bullish market.

2. Has a small real body (the area between the open and close prices).

3. Has a long upper shadow (the area between the high price and the real body).

4. The upper shadow is at least twice the length of the real body.

5. The color of the Hanging Man can be either green or red, but the bearish reversal implications are the same.

The Hanging Man candle indicates that:

1. Buyers pushed prices higher, but sellers took control and pushed prices back down.

2. There's a strong supply of the asset at the current price level.

3. A potential reversal to the downside is likely.

Traders often use the Hanging Man candle as a sell signal or a warning sign that the uptrend might be losing momentum. It's important to combine the Hanging Man with other technical indicators or chart patterns to confirm the reversal.