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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