The "bearish" Harami could actually be more bullish than bearish according to Bulkowski.
Bearish Harami Important Results
We haven't got confirmation of trend reversal today....More like Soaking/absorption...Or a pause.
Column 1 Column 2 0 Theoretical performance: Bearish reversalTested performance: Bullish continuation 53% of the timeFrequency rank: 26Overall performance rank: 72Best percentage meeting price target: 64% (bull market, down breakout)Best average move in 10 days: -4.01% (bear market, down breakout)Best 10-day performance rank: 50 (bear market, down breakout)All ranks are out of 103 candlestick patterns with the top performer ranking 1. "Best" means the highest rated of the four combinations of bull/bear market, up/down breakouts.
The above numbers are based on hundreds of perfect trades. See the glossary for definitions.Bearish Harami
One wonders if it is all random.
I guess the important thing to consider is the background technical strength leading up to the breakout.
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The "bearish" Harami could actually be more bullish than bearish...
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