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Student’s Question:

This chart where the 10 day moving average moves above the 60 day moving average a Doji appears followed by a hanging man. This looks like a good opportunity to short the market…would you agree?

chart 8 31 09 A

Power Course Instructor’s Response:

Yes...a hanging man at the apex of an uptrend can indicate that sellers are taking control.

Moreover, since this trade is also in the direction of the Daily trend, that would be another indication that shorting the pair is the way to go.

For a textbook example of a hanging man, take a look below...

chart 8 31 09 B