Hanging Man / 首吊り線
Reference values based on Bulkowski's "Encyclopedia of Chart Patterns". Data is primarily from U.S. markets and may differ for other markets.
A single-candlestick pattern appearing at the top of an uptrend. Its shape is identical to the hammer, with a small body at the top and a lower shadow at least twice the body length. Appearing during an uptrend changes its meaning, indicating that buying power is weakening and suggesting a potential downward reversal.
After the hanging man is confirmed, enter short when the next candle opens as a bearish candle. Entering when price drops below the hanging man's low is also valid. Waiting 1-2 days for confirmation is safer.
Project the hanging man's lower shadow length downward from the low to determine the price target. Or target the nearest support line.
Place a stop-loss slightly above the hanging man's high.
Higher volume increases the reliability of the topping signal. Heavy volume indicates profit-taking or seller entry.