BEARISH HANGING MAN
The chart showing Series 1 series.
To see the performance of the pattern in your stock exchange in the context of other stock markets please examine the table below. Find your stock market there and see how it ranks among the others. This will give you an idea about the pattern’s strength and reliability and help you in your selling decisions.
BEARISH HANGING MAN
Definition
The pattern occurs at the top of a trend or during an uptrend. The name Hanging Man comes from the fact that the candlestick looks somewhat like a hanging man. It is a single candlestick pattern that has a long lower shadow and a small body at or very near the top of its daily trading range.
Recognition Criteria
1. The market is characterized by a prevailing uptrend.
2. A small real body at the upper end of the trading range is observed. The color of the body is not important.
3. The lower shadow of this candlestick is at least twice as long as the body.
4. There is (almost) no upper shadow.
Pattern Requirements and Flexibility
The body of the Hanging Man should be small. The lower shadow should be at least twice as long as the body, but not shorter than an average candlestick. It is desired that the upper shadow is very small, or better nil. The top of the Hanging Man’s body should be above both of the two preceding white candlesticks.
Trader’s Behavior
The Hanging Man is a bearish reversal pattern. It signals a market top or a resistance level. Since it is seen after an advance, it signals that selling pressure is starting to increase. The long lower shadow indicates that the sellers pushed prices lower during the session. Even though the bulls regained their footing and drove prices higher by the finish, the appearance of this selling pressure after a rally is a serious warning signal. If the body is black, it shows that the close was not able to get back to the opening price level, which has potentially more bearish implications.
Sell/Stop Loss Levels
The confirmation level is defined as the midpoint of Hanging Man’s lower shadow. Prices should cross below this level for confirmation.

The stop loss level is defined as the higher of the last two highs. Following the bearish signal, if prices go up instead of going down, and close or make two consecutive daily highs above the stop loss level, while no bullish pattern is detected, then the stop loss is triggered.
Title
Pattern Performance in Stock Exchanges since 1/1/2014
Country
Stock Exchange
Website
Patterns
Total
Confirmed
Total
Profitable
Signals
Confirmation
%
Profitable
Signal%
Per Trade
Samples
Profit%
Loss%
Total Net%(Descending)
CanadaCSE 83237.5066.6711.671.0010.67
OmanMSM 76585.7183.336.501.335.17
USOTC PINK 2204128771758.4855.625.691.654.03
Saudi ArabiaTADAWUL 125805064.0062.503.840.613.23
IndiaNSE 141466439346.9659.194.061.082.98
IndonesiaIDX 2681247446.2759.683.650.732.92
UAEUAE 59291649.1555.173.520.692.83
IndiaBSE 3342167094449.9756.534.311.672.64
PortugalLISBON 78402751.2867.503.030.482.55
TaiwanGTSM 95850630852.8260.873.250.712.53
ArgentinaBUE 125563144.8055.363.480.962.52
JapanSAPPORO 64166.6725.002.500.002.50
Hong KongHKEX 197895252548.1355.153.470.992.48
ChinaSZSE 185285448246.1156.443.400.972.44
USNASDAQ 48302390141249.4859.083.250.812.43
RussiaMICEX 2961338044.9360.153.280.872.41
TurkeyBIST 3831619742.0460.252.870.602.27
NorwayOSE 2981428648.3259.723.321.112.21
South KoreaKOSDAQ 2509124977449.9461.773.100.922.18
CanadaTSX-V 1811065959.1255.144.822.722.10
AustraliaASX 90346324651.2753.132.740.682.06
USAMEX 76141321754.2752.542.970.952.02
Austria WIENERBORSE 72228.57100.002.000.002.00
USOTCBB 2113961.9069.234.462.462.00
ChinaSSE 126760432347.6753.483.001.031.96
BrazilBOVESPA 61628315146.2752.982.780.811.96
EgyptEGX 107643159.8148.443.301.341.95
JordanASE 3615641.6740.002.670.801.87
JapanFUKUOKA 267326.9242.862.290.431.86
South KoreaKRX 2499124774149.9059.422.490.671.82
The World 67168330661825849.2555.202.620.841.78
IsraelTASE 44921513047.8860.472.590.841.75
Greece ATHENS 150764250.6755.262.791.051.74
QatarQE 84352441.6768.572.090.431.66
TaiwanTWSE 143270840049.4456.502.170.521.65
CanadaTSX 2123112163052.8056.202.190.591.60
JapanTOKYO 65453227175249.3054.292.260.801.46
UKLSE 4084189997246.5051.182.220.781.43
SwedenSTOCKHOLM 108651227347.2453.222.390.971.42
DenmarkCOPENHAGEN 2421216450.0052.892.150.771.38
GermanyXETRA 2241112159050.0252.632.000.631.37
FrancePARIS 167981342048.4251.662.020.651.37
MalaysiaBURSA 4272009946.8449.502.310.951.37
ItalyBORSA 161781342450.2852.152.100.781.32
SpainIBEX 2931338145.3960.902.311.081.23
BelgiumBRUSSELS 3641588943.4156.331.700.511.19
NetherlandsAMSTERDAM 50024113148.2054.361.750.581.17
USNYSE 71223567187350.0852.511.660.511.15
USAMEX 158653.3375.001.000.001.00
MexicoBMV 3251548447.3854.551.730.790.94
Austria WIENERBORSE 139734152.5256.161.550.680.86
USWARRANTS 1911757.8963.642.551.730.82
SwitzerlandSIX 102152424951.3247.521.260.540.72
KuwaitKSE 144228.5750.002.001.500.50
JapanNAGOYA 88422147.7350.001.100.620.48
USPREFERRED 127158527346.0346.670.770.330.44
SingaporeSGX 163873353.3737.931.330.980.36
FOREXFOREX 104240.0050.000.250.250.00
TurkeyBIST 41025.000.000.001.00-1.00
Patterns Total: How many of this particular pattern has been detected in this period
Confirmed Total: How many of the detected patterns were confirmed and converted into signals
Profitable Signals: The number of the confirmed patterns that have given profitable trades
Confirmation %: The percentage of the confirmed patterns with respect to the total occurrences of this pattern
Profitable Signal %: The percentage of the successful confirmed patterns with respect to the total confirmed patterns
Per Trade Profit %: Total Profits / Total Trades
Per Trade Loss %: Total Losses / Total Trades
Per Trade Net%: (Total Profits–Total Losses) / Total Number of Trades
Samples: Live sample ticker symbols from stock exchanges with links to stock pages of the related bulls.com© family websites
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Government regulations require disclosure of the fact that while these methods may have worked in the past, past results are not necessarily indicative of future results. While there is a potential for profits there is also a risk of loss. There is substantial risk in security trading. Losses incurred in connection with trading stocks or futures contracts can be significant. You should therefore carefully consider whether such trading is suitable for you in the light of your financial condition since all speculative trading is inherently risky and should only be undertaken by individuals with adequate risk capital. Neither Americanbulls.com LLC, nor Candlesticker.com makes any claims whatsoever regarding past or future performance. All examples, charts, histories, tables, commentaries, or recommendations are for educational or informational purposes only.

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