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What is a Hanging Man BTCUSD Candles Pattern in Bitcoin Trading?

What Does Hanging Man Candle Mean? - Hanging Man Candlestick Definition

Hanging Man cryptocurrency candles pattern is a potentially bearish reversal cryptocurrency signal which forms during a upwards trend. It is named so because it resembles a man hanging on a noose up high.

A hanging man candle has:

  • A small body
  • The body is at the top
  • Lower shadow is two or three times length of real body.
  • Has no upper shadow or very small upper shadow if present.
  • The colour of the body isn't important

hanging man reversal candle cryptocurrency Chart patterns - What is a Hanging Man Bitcoin Candles Setup?

What is a Hanging Man Candlestick in Bitcoin Trading? - Hanging Man Bitcoin Candlestick Pattern

BTCUSD Candle Pattern

The sell cryptocurrency signal is confirmed when a bearish candle closes below the open of the candle on left-side of this hanging man bitcoin candle-stick pattern setup.

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

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