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Using a Hanging man candle
https://www.tradingview.com/chart/LXuDD5Sp/If you are knowledgeable about Candle patterns, you would know what a hanging man candle is. As defined by Steve Nison, it is a candle with small real body with a long lower shadow that is at least 2x the height of the real body, and MUST follow or be in an uptrend. A hanging man candle can be considered a potential bearish reversal if and only if there is bearish confirmation immediately following the hanging man candle itself.
But, a bullish continuation candle immediately following the hanging man, can be a powerful bullish momentum signal.
So, since we are hitting many highs in the markets, we here at Candlecharts.com use hangingman candles to see if we are getting a reversal, or continuation.
So, since this has been working well, we continue to use Nison Candle Scanner to scan for these hanging man candles in multiple markets: candlecharts.com/tradingview
But, a bullish continuation candle immediately following the hanging man, can be a powerful bullish momentum signal.
So, since we are hitting many highs in the markets, we here at Candlecharts.com use hangingman candles to see if we are getting a reversal, or continuation.
So, since this has been working well, we continue to use Nison Candle Scanner to scan for these hanging man candles in multiple markets: candlecharts.com/tradingview
Note
see daily candle on TSLA on Nov 6
The very first to reveal candlesticks to the Western world
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Take your trading and investing success to the next level
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
The very first to reveal candlesticks to the Western world
Take your trading and investing success to the next level
Take your trading and investing success to the next level
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.