What Is a Harami Candlestick Pattern?
The Harami Candlestick Pattern is considered a trend reversal pattern that can either be bullish or bearish, depending on the direction of the price action.
What Does a Harami Candlestick Look Like?
A Harami pattern can be either bullish or bearish, depending on the color of its candles. Each pattern consists of two Candlesticks that occur on successive days:
What Is a Bearish Harami?
A bearish Harami occurs at the top of an uptrend when there is a large bullish green candle on Day 1 followed by a smaller bearish or bullish candle on Day 2.
What Is a Bullish Harami?
A bullish Harami occurs at the bottom of a downtrend when there is a large bearish red candle on Day 1 followed by a smaller bearish or bullish candle on Day 2.
How Do You Trade on a Bullish Harami?
In Chart 2 above, a buy signal could be triggered when the day after the bullish Harami occurred, the price rose higher and closed above the downward resistance trendline. A bullish Harami pattern and a trendline break is a combination that could result in a buy signal. How Do You
Trade on a Bearish Harami?
The second Harami pattern shown in Chart 2 above is a bearish reversal Harami which could also trigger a buy signal. The first candle was a long bullish green candle. On the second candle, the market gapped down at the open. Day 2 showed a bearish candlestick which made the bearish Harami look even more bearish. A sell signal could be triggered when the day after the bearish Harami occurred, the price fell even further down, closing below the upward support trendline. When combined, a bearish Harami pattern and a trendline break might be interpreted as a potential sell signal.
The Harami Candlestick Pattern is considered a trend reversal pattern that can either be bullish or bearish, depending on the direction of the price action.
What Does a Harami Candlestick Look Like?
A Harami pattern can be either bullish or bearish, depending on the color of its candles. Each pattern consists of two Candlesticks that occur on successive days:
What Is a Bearish Harami?
A bearish Harami occurs at the top of an uptrend when there is a large bullish green candle on Day 1 followed by a smaller bearish or bullish candle on Day 2.
What Is a Bullish Harami?
A bullish Harami occurs at the bottom of a downtrend when there is a large bearish red candle on Day 1 followed by a smaller bearish or bullish candle on Day 2.
How Do You Trade on a Bullish Harami?
In Chart 2 above, a buy signal could be triggered when the day after the bullish Harami occurred, the price rose higher and closed above the downward resistance trendline. A bullish Harami pattern and a trendline break is a combination that could result in a buy signal. How Do You
Trade on a Bearish Harami?
The second Harami pattern shown in Chart 2 above is a bearish reversal Harami which could also trigger a buy signal. The first candle was a long bullish green candle. On the second candle, the market gapped down at the open. Day 2 showed a bearish candlestick which made the bearish Harami look even more bearish. A sell signal could be triggered when the day after the bearish Harami occurred, the price fell even further down, closing below the upward support trendline. When combined, a bearish Harami pattern and a trendline break might be interpreted as a potential sell signal.
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