Hanging man – Asian paints – Bearish

[Balaji]

Hanging man – Asian paints – Bearish

Trade plan:

1. Symbol: Asian paints
2. Direction: Short
3. Entry: 8559
4. SL: 8624 (Risk = 65)
5. Target: 8462 (Reward = 97 (1.5 times x 65))

[Asif Sahib]

Hi Balaji sir, the pattern shown by here cannot be qualified as a hanging man, it should be red in colour and inverted hammer. The pattern shown here is red coloured hammer.

[Balaji]

Dear Sir,

I thank you for viewing my analysis. Please find below the definition for hanging man:

A hanging man is a type of bearish reversal pattern, made up of just one candle, found in an uptrend of price charts of financial assets. It has a long lower wick and a short body at the top of the candlestick with little or no upper wick.

Hope this will clarify the subject. If I am wrong, please check with Murugan sir and correct me.

[Author]

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