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Hanging Man Candlestick
The Hanging Man candlestick, also known as the Hanging Man doji, is characterised by a single bearish candle with a small candle body, long upper wick, and short lower wick. It is formed when the open and close prices of a security are near the low of the period.
It occurs due to strong selling pressure when the security is pushed up by buyers but ultimately closed near the low of the period. Traders view this pattern as a bearish reversal, signalling a potential change in trend from bullish to bearish.
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