This is such a BS candlestick pattern

[Maverick1]

hanging man, doji

What are some of your nominations for worst candlestick ideas of all time?

 

[qxr1011]

On its own it is BS , but after a long run, especially after the accelerated run, when all candles are of the same color and each next candle is full body candle, longer than than the previous one, the hanging man , especially with different color, is almost surely the sign to place "stop and revers" trade.

 

[Frederick Foresight]

Placing undue emphasis on any single price bar, without proper consideration for the preceding several bars, is BS.

 

[tiddlywinks]

hanging man

http://thepatternsite.com/HangingMan.html

 

[Maverick1]

On its own it is BS , but after a long run, especially after the accelerated run, when all candles are of the same color and each next candle is full body candle, longer than than the previous one, the hanging man , especially with different color, is almost surely the sign to place "stop and revers" trade.

Can you post a chart of an example? the pattern seems to be hard to find

 

[qxr1011]

next time i see one i will post

 

[Maverick1]

Placing undue emphasis on any single price bar, without proper consideration for the preceding several bars, is BS.

I would say even with context a doji is worthless

 

[Maverick1]

I was re-reading Steve Nison's book the other day. Couldn't stop laughing.

 

[qxr1011]

the better even is inverted hammer, watch for it

 

[qxr1011]

I was re-reading Steve Nison's book the other day. Couldn't stop laughing.

agree, i just did the same thing recently