Hanging Man Bearish XAUUSD Candlesticks Pattern

Hanging Man Candlestick Pattern

Hanging Man Candles Pattern is a potentially bearish reversal gold trading signal that occurs during a gold upward trend. Hanging Man Candlestick Pattern is named so because it resembles a man hanging on a noose up high.

A hanging man candle pattern has:

• A small body
• The body is at the top
• The lower shadow is 2 or 3 times length of real body.
• Has no upper shadow or very small upper shadow if present.
• The color of the body is not important

Hanging Man Candle Pattern - How to Trade Hanging Man Candles Patterns - How to Analyze Hanging Man Candlesticks Pattern

Technical Analysis of Hanging Man Candles Patterns

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

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