Hanging man candlestick pattern in Forex charts is typically seen during the uptrend. This pattern is very similar to doji like, it has a very short body and long lower wick.

But hanging man doesn’t has any upper wick and also it is seen only during uptrends where it means that the steam of the forex bullish run is over and the bearish run is about to start.

Where as a doji can be seen in both uptrend as well as downtrend.

As you can see in the image, how after the hanging man, the market reversed leaving all the buyers hanging.

Thats  how this candlestick pattern got its name.

So, needless to say, this is one of the very important patterns that is extremely reliable.

Thats all in this post on forex candlesticks

Forex Candlestick Doji like I mentioned is one of the very important patterns in candlestick. Presence of a doji on most of the charts can indicate that a reversal may be around the corner.

But not all forex charts carry such significant of doji. In some cases, this pattern would mean nothing at all.

Which charts are these?

Well any forex chart which is on day trading time frame such as 15 min., 5 min., may be even 30 min. would not carry so much significance of forex candlestick doji.

But, on the other hand presence on 1 hr chart and daily chart can cause flutters among traders and they may start adjusting their stop losses or may even choose to close the trades.

So, always watch for doji on daily, 8 hr or 1 hr forex chart. But on day trading time frames, feel free to ignore candlestics Doji.

Forex Candlestick Spinning top is a special kind of Doji that we saw in the last post on forex candlesticks. Like you saw in that post, ideally doji hs same open and close price, signifying no body, and good sized wicks on both the ends.

A spinning top is almost same except that the size of the body is few pips. The body size is still very  small, but it is bigger than forex candlesticks doji.

Look at the chart below

As you can see, the spinning top shows that a significant trend  may come to an end since there is a indecision in the market. But just like candlestick doji, the volatility in the market is known from the size of wicks. If the volatility is high, the wicksize is large.

So, needless to say, both spinning top and doji are important forex candlestick patterns