Hanging Man on NZDUSD 30 Min Chart

A beautiful Hanging Man set up appeared on the NZDUSD 30 minute chart this afternoon.  A Hanging Man is fairly simple: This setup presents itself when a bar closes with a long shadow and a close at or near the bar low.  In other words, if there is a long bar but the price closes at the bottom of that bar, we are alerted that a Hanging Man has developed and we should look for the trend to reverse.  

Check the picture out:

Notice the big red bar; the bulls tried to push the price higher but the rally ran out of steam, allowing the price to close near the bottom of the bar.  That's our Hanging Man, alerting us to sell if the next bar continues lower.

Do you IT Members see this?