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Harami Pattern In A Nutshell
Involving two candles, the first candle is typically large. Let us use a bearish reversal as an example. The first candle will be large in body, opening and closing much higher with small wicks on either end. The second one is smaller, gapping down and closing lower, but staying within the previous candle. These two candles together create the Harami Pattern. This can be used in reverse and it is still the same pattern.
Harami patterns are probably one of the more common patterns in the market. Identifying this pattern is simple as it involved two candles. Also making this easy is the pattern can occur in either a bullish or bearish market, allowing for flexibility. Patterns should be used as alerts because they are not one hundred percent accurate. Now, let us dive into the pattern.
Closer Look at Harami Pattern
Locating this pattern is easier because it involves only two candles and it happens more often than other patterns. As with any pattern, it is best used as an indication of a potential market shift, rather than a certain market shift. Some indicators that may complement this pattern well include Bollinger Bands or standard deviation. MacroAxis has many tools so be sure to check out the sight to tune your investing and trading strategy.
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