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.
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.
Pattern Performance in Stock Exchanges since 1/1/2020
Stock Exchange 
Per Trade 
Total Net% Descending
CanadaCSE 1791047158.1068.279.071.567.50
Vietnam HNX 2951447948.8154.865.121.823.30
ChileBCS 153754749.0262.673.730.523.21
USOTC PINK 46222712138759.8750.135.452.532.91
IndiaNSE 3904177798345.5255.324.351.432.91
CanadaTSX-V 49127914956.8253.415.522.722.80
USNASDAQ 91904879257753.1752.744.101.322.78
SpainIBEX 45221811648.2353.213.510.842.68
TurkeyBIST 67727614840.7753.624.221.562.66
Hong KongHKEX 3341162085648.4952.843.911.282.64
SwedenSTOCKHOLM 2933140174147.8352.823.961.342.62
JapanSAPPORO 64166.6725.002.500.002.50
IsraelTASE 150478144351.9356.723.280.922.37
MexicoBMV 50030115660.2051.833.341.022.32
IndiaBSE 83383964211247.5453.284.181.922.26
South KoreaKOSDAQ 44372175116949.0453.723.351.162.18
MalaysiaBURSA 82337718245.8148.
IndonesiaIDX 86135918141.7050.423.381.401.98
UAEUAE 135824961.4859.042.680.711.96
JordanASE 34161047.0662.502.790.901.89
ChinaSZSE 47522456126651.6851.552.971.101.87
BelgiumBRUSSELS 3061527749.6750.662.500.691.81
FrancePARIS 2696137369050.9350.252.680.941.74
TaiwanGTSM 192794448749.1451.432.710.961.74
ChinaSSE 42862219113851.7751.282.701.001.70
UAEUAE 4216938.1056.251.810.131.69
JapanNAGOYA 136663048.5345.452.320.661.66
The World 146692736543724551.0649.722.741.101.65
Poland GPW 182492347750.6051.683.191.581.61
South KoreaKRX 50762540135350.0653.252.470.871.60
Saudi ArabiaTADAWUL 46523612150.7551.272.350.751.60
Vietnam HOSE 137765334447.4252.682.751.171.57
PakistanKSE 46425312554.5349.413.271.711.56
CanadaTSX 3710194495552.4049.132.340.811.53
AustraliaASX 2237121857954.4547.542.801.281.52
Greece ATHENS 4111928846.7245.832.651.151.50
PhilippinesPSE 52424311646.3747.742.561.071.49
ThailandSET 83142121250.6650.362.531.041.49
BangladeshDSE 47925612853.4450.002.831.391.45
Poland GPW 179852.9488.891.440.001.44
QatarQE 154803751.9546.252.090.711.38
CanadaTSX 239539.1355.561.560.221.33
NorwayOSE 95651525854.1849.813.011.691.32
USNYSE 128686760328452.5348.582.110.801.31
EgyptEGX 3311537746.2250.333.221.931.29
JapanTOKYO 132757120361953.6350.832.200.971.22
UKLSE 68923578171151.9947.752.100.961.15
USAMEX 1939117354860.5046.722.331.211.11
Austria WIENERBORSE 3611839350.6950.822.341.231.11
TaiwanTWSE 2908141268248.5648.301.910.841.07
GermanyXETRA 56302894140151.4048.411.840.781.06
NetherlandsAMSTERDAM 86845121751.9648.121.730.671.06
BrazilBOVESPA 2494120354548.2445.302.111.051.06
ItalyBORSA 3369176383352.3347.251.880.841.04
PortugalLISBON 2616961.5456.
PortugalLISBON 102432242.1651.
DenmarkCOPENHAGEN 44924010253.4542.502.311.410.90
SpainIBEX 2815853.5753.331.070.200.87
RussiaMICEX 167443.7557.
SwitzerlandSIX 186498145552.6346.381.610.780.83
MalaysiaBURSA 44231652.2769.570.960.170.78
SingaporeSGX 2411285753.1144.531.550.820.73
KuwaitKSE 2851325146.3238.641.971.240.73
SwitzerlandSIX 2510540.0050.001.000.300.70
JapanFUKUOKA 41181043.9055.561.520.820.69
Greece ATHENS 2713748.1553.850.920.230.69
BrazilBOVESPA 30191363.3368.421.160.470.68
ArgentinaBUE 119554223245.4442.732.662.030.63
PhilippinesPSE 50301560.0050.000.670.100.57
USFOREX 64312348.4474.190.710.160.55
FrancePARIS 2413754.1753.850.770.230.54
ItalyBORSA 2413754.1753.850.770.230.54
GermanyXETRA 2313756.5253.850.770.230.54
BelgiumBRUSSELS 2514756.0050.000.710.210.50
AustraliaASX 5218734.6238.890.670.170.50
DenmarkCOPENHAGEN 56241742.8670.830.630.130.50
NetherlandsAMSTERDAM 2514756.0050.000.710.210.50
JapanTOKYO 32181356.2572.220.500.060.44
IndonesiaIDX 259536.0055.560.560.110.44
UKLSE 34191155.8857.890.890.470.42
Hong KongHKEX 3919948.7247.370.580.160.42
Austria WIENERBORSE 2112657.1450.000.670.250.42
ThailandSET 24201083.3350.000.600.200.40
MexicoBMV 2510740.0070.000.600.200.40
SingaporeSGX 2513552.0038.460.540.150.38
PakistanKSE 93211022.5847.620.570.330.24
ChileBCS 29211172.4152.380.670.480.19
ChinaSSE 32181056.2555.560.280.110.17
IndiaNSE 219342.8633.330.330.220.11
South KoreaKOSDAQ 3212537.5041.670.330.250.08
FOREXFOREX 48251152.0844.000.360.280.08
Vietnam HOSE 37211056.7647.620.240.190.05
USPREFERRED 17064149.530.
NorwayOSE 2511544.0045.450.360.360.00
IsraelTASE 145335.7160.000.600.600.00
RussiaMICEX 5770044.890.
TaiwanGTSM 136346.1550.000.330.330.00
BangladeshDSE 2816457.1425.000.000.19-0.19
TurkeyBIST 3712432.4333.330.330.67-0.33
SwedenSTOCKHOLM 237230.4328.570.140.57-0.43
ArgentinaBUE 6220532.2625.000.450.95-0.50
USOTCBB 52140.0050.003.003.50-0.50
OmanMSM 420100.
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© family websites


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