What is Hanging Man and Shooting Start Candlestick Pattern ?
The hanging man and shooting star are two candlestick patterns that are often used by traders to signal a potential reversal in the market.
What does a Hanging Man mean?
The hanging man is a bearish reversal pattern that is formed when the market is in an uptrend and the price begins to form a small body with a long wick. This signals that the buyers are losing control and the sellers are beginning to take control of the market.
How Hanging Man pattern form?
The Hanging Man is a bearish reversal pattern
that can also mark a top or strong resistance level.
When the price is rising, the formation of
a hanging Man indicates that sellers are
beginning to outnumber buyers.
What does a Shooting Star mean?
The shooting star is a bullish reversal pattern that is formed when the market is in a downtrend and the price begins to form a small body with a long wick. This signals that the sellers are losing control and the buyers are beginning to take control of the market.
How Shooting Star pattern form?
The shooting star is a bearish reversal pattern that can also mark a top or strong resistance level.
The Shooting Star is a bearish reversal pattern that looks identical to the invented hammer but occurs when the price has been rising.
How to trade with Hanging Man and Shooting Star pattern?
These patterns can be used to signal a potential reversal in the market, but it is important to note that they are not always accurate. It is always best to confirm these patterns with other technical indicators before making any trading decisions.
