Binary Signal Pattern 7

Binary Signal Pattern 7

Hanging man

The hanging man is a bearish reversal candlestick pattern consisting of only one candle and found in an upward trend. It has a longer lower wick and a short body at the top of the candlestick with little or no upper wick. The Hanging man represents a potential reversal of the upward trend. Long shadow of the hanging man candlestick indicates the massive selling and continuation of the downward trend. If the more candles move further down and breaks below the short term uptrend line, this can be seen as a continuation of the downward for the long term.