The hanging man appears during an uptrend, and its real body can be either black or white. While it signiﬁes a potential top reversal, it requires conﬁrmation during the next trading session. The hanging man usually has little or no upper shadow.
These lines are bearish if they occur after a significant uptrend. If this pattern occurs after a significant downtrend, it is called a Hammer. They are identified by small real bodies (i.e., a small range between the open and closing prices) and a long lower shadow (i.e., the low was significantly lower than the open, high, and close). The bodies can be empty or filled-in.