The Hanged Man card itself explains its purpose. If it appears for you, you are at a crossroads and must choose which road to choose. But in order to do so, you must make a decision.
In order to make the right decision, you’ll need to surrender, let go and sacrifice something.
In the Present position, this card shows that you are in the process of realising you need to let something go from your life. The sacrifice seems harsh, but your life will be the better for it.
This card is associated with Water and the planet Neptune in a wider sense, and keywords that are associated with The Hanged Man are:

The Chariot represents success. It will require determination and self-discipline to achieve, but don’t give up!
In the present position, it represents a success that you are creating right now. If you are undertaking a project, it’s likely it will succeed.
This card is associated with Water and the astrological sign of Cancer in a wider sense, and keywords that are associated with The Chariot are:
