Long lower shadow at least twice the length of the body.
Little or no upper shadow.
Previous trend should be bullish.
Bearish Hanging Man is a special case of the Dragonfly Doji.
As with any single candlestick, confirmation is required. The Hanging Man formation shows the price goes much lower than the open then closes near the opening price. This could mean that many longs have positions that they are attempting to sell. Ideally, a black real body Hanging Man with a lower open the following day could be a bearish signal for the days ahead.