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
JapanSAPPORO 64166.6725.002.500.002.50
UAEUAE 3915838.4653.331.870.131.73
Poland GPW 179852.9488.891.440.001.44
CanadaTSX 229540.9155.561.560.221.33
PortugalLISBON 2616961.5456.
SpainIBEX 2715855.5653.331.070.200.87
RussiaMICEX 147450.0057.
MalaysiaBURSA 40221555.0068.180.910.180.73
SwitzerlandSIX 2510540.0050.001.000.300.70
Greece ATHENS 2713748.1553.850.920.230.69
BrazilBOVESPA 30191363.3368.421.160.470.68
PhilippinesPSE 47281459.5750.000.710.110.61
SingaporeSGX 2210345.4530.000.700.100.60
DenmarkCOPENHAGEN 55231741.8273.910.650.090.57
ItalyBORSA 2313756.5253.850.770.230.54
FrancePARIS 2313756.5253.850.770.230.54
GermanyXETRA 2213759.0953.850.770.230.54
JapanTOKYO 29171358.6276.470.530.000.53
BelgiumBRUSSELS 2414758.3350.000.710.210.50
AustraliaASX 4618739.1338.890.670.170.50
NetherlandsAMSTERDAM 2414758.3350.000.710.210.50
Hong KongHKEX 3517848.5747.060.650.180.47
ThailandSET 2118985.7150.000.610.170.44
IndonesiaIDX 239539.1355.560.560.110.44
UKLSE 33191157.5857.890.890.470.42
Austria WIENERBORSE 2112657.1450.000.670.250.42
USFOREX 60292148.3372.410.590.170.41
MexicoBMV 2510740.0070.000.600.200.40
ChileBCS 25201180.0055.000.700.450.25
PakistanKSE 7320927.4045.000.600.350.25
FOREXFOREX 42241157.1445.830.380.250.13
ChinaSSE 2816857.1450.
IndiaNSE 219342.8633.330.330.220.11
Vietnam HOSE 34201058.8250.
South KoreaKOSDAQ 3212537.5041.670.330.250.08
Austria WIENERBORSE 3412251.
JapanFUKUOKA 363241.6713.330.100.020.08
Vietnam HOSE 12734247.680.330.040.000.04
The World 135223167190150.971.310.050.010.03
BangladeshDSE 4691153.090.400.020.000.02
South KoreaKOSDAQ 40511148.580.
SwedenSTOCKHOLM 27004447.850.310.010.000.01
NorwayOSE 8581153.
KuwaitKSE 2652147.920.790.010.010.00
TaiwanTWSE 26521148.570.
IndiaNSE 35061144.920.
USOTC PINK 41021160.410.
USNASDAQ 85762253.
Poland GPW 17201150.640.
ChinaSSE 38602151.610.
USPREFERRED 17064149.530.
USNYSE 119851151.890.
JapanTOKYO 120652153.830.
Hong KongHKEX 30662248.
South KoreaKRX 46922150.
ItalyBORSA 31261151.790.
SingaporeSGX 2270054.
ThailandSET 7571050.
TaiwanGTSM 136346.1550.000.330.330.00
TaiwanGTSM 17951048.
Vietnam HNX 2630049.810.
USAMEX 17890059.640.
UKLSE 63660051.850.
CanadaTSX 34620052.
CanadaCSE 1800058.890.
CanadaTSX-V 4730056.660.
SwitzerlandSIX 17620052.
ChileBCS 1320050.760.
ArgentinaBUE 9580044.570.
AustraliaASX 20340054.
BrazilBOVESPA 22230048.400.
SpainIBEX 4120049.
Greece ATHENS 3730047.720.
FrancePARIS 25190050.730.
IndiaBSE 73700046.990.
IsraelTASE 13750051.
IsraelTASE 145335.7160.000.600.600.00
IndonesiaIDX 7400043.
BelgiumBRUSSELS 2940049.320.
GermanyXETRA 51410051.
ChinaSZSE 43440052.350.
NorwayOSE 2511544.0045.450.360.360.00
UAEUAE 1100063.640.
Saudi ArabiaTADAWUL 4070050.370.
QatarQE 1520051.970.
MalaysiaBURSA 7500046.
MexicoBMV 4770060.380.
EgyptEGX 3020047.350.
JordanASE 360044.440.
JapanNAGOYA 1170050.430.
NetherlandsAMSTERDAM 8042051.
PhilippinesPSE 5032146.520.430.020.020.00
TurkeyBIST 6261042.
DenmarkCOPENHAGEN 4331052.420.000.000.01-0.01
RussiaMICEX 6443044.570.000.000.02-0.02
PakistanKSE 4301055.
PortugalLISBON 951040.
BangladeshDSE 2515460.0026.670.000.20-0.20
TurkeyBIST 3110432.2640.000.400.60-0.20
ArgentinaBUE 5919532.2026.320.470.89-0.42
SwedenSTOCKHOLM 237230.4328.570.140.57-0.43
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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