there shouldnt be much space between the open and close. I wrote a more detailed lesson on the pin bar where I get into what makes a tradable setup as well as where to place your local economic trading system stop loss and target. According to Bulkowski, this pattern predicts lower prices with a 72 accuracy rate.
As a result, a reversal and a fresh price decrease usually appear afterward. These well-funded players rely on lightning-speed execution to trade against retail investors and traditional fund managers who execute technical analysis strategies found in popular texts. Text "Join" to (save this number in your phone's contact list). The morning star, then, is bullish since the morning start (the planet Mercury) appears just before sunrise. The combined rejection of former support and consolidation made for an incredibly profitable trade setup. Hanging Man Candle Pattern The Hanging Man candlestick is absolutely the same as the Hammer candlestick pattern.