stephenleachman
Education

HANGING MAN - CANDLE FORMATION (BEARISH REVERSAL)

FX:GBPNZD   British Pound / New Zealand Dollar
124 0 12
The hanging man is a bearish candle formation that forms at the top of an
uptrend. It begins with a strong sell off at the open but ends up closing
near the open. It suggests price action may decline in the near future.

NOTE:
  • This is only a valid formation when at a key level of resistance. The hanging
    man can be both a positive or negative candle it just needs to close near the open
    with little to no wick.

TRIGGER:
  • I don't often use this formation for a trigger into a trade but rather for confirming a bearish reversal.
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