hanging

In the context of candlestick chart patterns, a "#hanging man" is a bearish reversal pattern that often appears at the end of an uptrend. It is a single candlestick pattern that can provide potential signals for traders.

The hanging man pattern consists of the following characteristics:

Appearance: The candlestick has a small body located near the top of the overall range.

Upper shadow: The candlestick has a long upper shadow, usually at least twice the length of the body.

Lower shadow: The candlestick has little to no lower shadow, or it is relatively short compared to the upper shadow.

The hanging man pattern suggests a potential shift in market sentiment from bullish to bearish. It indicates that despite a strong bullish rally during the trading session, sellers managed to push the price down significantly from its highs, causing the long upper shadow.

Traders interpret the hanging man pattern as a sign of selling pressure and potential exhaustion of the uptrend. However, it's important to note that this pattern alone is not sufficient to base trading decisions on. It is generally recommended to look for confirmation from other technical indicators or patterns before taking any actions.

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