I would sell and wait for the drop....that doji it printed gives me reason to pull out and wait.
Hanging Man / Dragonfly Doji Bearish
Pattern: Reversal
Trend: Bearish
Reliability: Low/Moderate
How to Identify it
Small real body at the upper end of the trading range
Lower shadow at least twice as long as the real body
No (or almost no) upper shadow
What it Means
There is a sharp sell off after the market opens during an uptrend. However, by the end of the trading day, the market closes at or near its high for the day. This signifies the potential for further sell-offs. Since the certainty for a Hanging Man indicator is low, the trend reversal can be confirmed by a black candlestick or a large down gap on the next trading day accompanied by a lower close. If the open and the close are identical, the indicator is considered a Dragonfly Doji. The Dragonfly Doji has a higher reliability associated with it than a Hanging Man.
Hanging Man / Dragonfly Doji Bearish
Pattern: Reversal
Trend: Bearish
Reliability: Low/Moderate
How to Identify it
Small real body at the upper end of the trading range
Lower shadow at least twice as long as the real body
No (or almost no) upper shadow
What it Means
There is a sharp sell off after the market opens during an uptrend. However, by the end of the trading day, the market closes at or near its high for the day. This signifies the potential for further sell-offs. Since the certainty for a Hanging Man indicator is low, the trend reversal can be confirmed by a black candlestick or a large down gap on the next trading day accompanied by a lower close. If the open and the close are identical, the indicator is considered a Dragonfly Doji. The Dragonfly Doji has a higher reliability associated with it than a Hanging Man.
