Comments on: Candlesticks – Vol 6 – Hanging Man

By: affectedstudent

affectedstudent — Wed, 08 Jul 2009 11:29:11 +0000

thanks

By: YourTradingCoach

YourTradingCoach — Wed, 08 Jul 2009 11:29:11 +0000

Ahhh! You got me there.
Thanks,
I think,

Happy trading,
Lance

By: mengnash

mengnash — Wed, 08 Jul 2009 11:29:11 +0000

Hi leng,

Thanks for the info
iannya amt berguna dan bagus in Bahasa Melayu

Sila datang ke kuala Lumpur ….

Seee U Lenggggg

May God Blesss Us

By: YourTradingCoach

YourTradingCoach — Wed, 08 Jul 2009 11:29:11 +0000

Hi Andrew,
There are as many definitions of a trend as there are markets to trade. For me, it’s just a series of higher swing highs and higher swing lows. And yeah, they exist on all timeframes.
Re Oil: The correct action is to follow whatever was documented in your trading plan prior to entering the trade. You did have a plan, didn’t you!
I’m actually not licenced to provide advice, and have no interest in it at all. I’d rather empower others to make their own decisions.
Cheers,
Lance

By: andrewhurrell

andrewhurrell — Wed, 08 Jul 2009 11:29:11 +0000

This is a brilliant and wonderfully simple explanation of a highly complex and involved subject. Well done and a big thanks for posting this.
Question though, you say the hanging man sentiment is expressed in an up trend. does this up trend have a minimum criteria? Can a couple of minutes be an up trend a couple of hours, a couple of days etc etc?
Also I am doing my brains longing US crude right now, given the chart would you hold or abandon ship!

By: kxcxixn

kxcxixn — Wed, 08 Jul 2009 11:29:11 +0000

yeah, i guess that does make sense–thanks for the response!

take care.

By: YourTradingCoach

YourTradingCoach — Wed, 08 Jul 2009 11:29:11 +0000

(continued from previous response)
With hanging man, candle gaps up to open at new highs, but is then driven strongly back down. The bulls manage to drive it back up this time (therefore it’s not as bearish as the shooting star), however the pattern has shown strength in the bears. If we get subsequent confirmation through price below the pattern again, bulls will sell adding selling pressure to the bears. Therefore bearish pattern (but only after confirmation).