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BabaRoga_space

4,558 Posts.

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17/06/17

20:32

Post #: 25336914
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Originally posted by sharks37 ↑

Agreed about looking at the bigger picture. Whether harami or not, it still requires confirmation, which for me would be in the form of follow through buying pushing the price above the high of the harami candle (at the very minimum).

But it's all about probabilities and the more signals of a turn-around the higher the degree of confidence. Given the sustained nature of the downward move I would have low confidence in a single candle daily buy signal like the harami. I would personally want to see additional confirmation in the form of a bullish reaction wave up followed by another push down resulting in a failure to break the current low, followed by buying again resulting in a new high - then is have confidence buyers are back in control.

Cheers, Sharks

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Yeah true!
More confirmation better the odds of getting it right

GXY Price at posting: $1.64 Sentiment: None Disclosure: Not Held
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0 Great analysis

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