Hanging Man
A candle with a small body near the top and a long lower wick, appearing after an advance.
Identical in shape to a hammer and read as its opposite because of where it appears. The logic is that a deep intraperiod decline during an uptrend shows selling that was not there before.
What a hanging man has actually done
Every occurrence we hold, scored on whether price moved more than 0.5% in the pattern’s own direction within three candles.
| Timeframe | Occurrences | Reached target | Baseline | Edge |
|---|---|---|---|---|
| 1H · crypto | 3,493 | 39.2% | 24.3% | +14.8pp |
| 4H · crypto | 2,822 | 47.2% | 37.6% | +9.6pp |
| 1D · crypto | 2,748 | 62.0% | 54.5% | +7.5pp |
Baseline is the share of ordinary candles that passed the same test over the same period, same timeframe and same direction. A rate at or below it means the shape added nothing. Edge is the difference between the two. This is a record of what followed, not a forecast.