The past is gone but the future is not yet here. The Hanged Man is telling you to live in the moment, learn from it and accept that you are in limbo. It might even represent some
breathing time between two important phases of your life.
On the other hand (when the card appears upside down), the Hanged Man could be urging you to look at things from a different perspective, this may happen of its own accord when your life takes a radical turn. Or it can be telling you that nothing will change until you can change your perspective due to arrogance or resistance to spiritual influences.