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@EQSIS, Sir, Muthu Kumaran explanation is logical… my doubt is , can hanging man be both green or red ? Body of candle upper or lower?
Hi maam, here the indicated pattern in the charts seams to be a Hammer, not a hanging man. The hammer is expected while terminating the existing bearish trend, here the volume is expected to be high and the hammer body should be green in color. On the other hand hanging man (shooting star) body should be red in color and this pattern generally terminates bullish trend..
The above indicated candlestick formation generally ignored as it was not clearly qualified…. Note: The indicated pattern cannot be viewed as best she indication…
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