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Hanging Man (شمعة الرجل المشنوق).. Be cautious of it!
It looks like the Hammer, but this one appears at the end of an uptrend. It serves as a warning that the market might turn bearish.
How to recognize it?
- Exactly the same shape as the Hammer
- Its location: after a wave of upward movement
What does it mean?
Sellers have started to enter the market strongly, and the uptrend may be coming to an end. Confirmation is needed with a red candle afterwards.
Academic Note
Its credibility increases with high trading volumes.
Don't enter a trade with your eyes closed!
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