The Harami candlestick is a Japanese candlestick pattern that comprises of two candles which indicates a potential reversal or continuation in the market. The word ‘Harami’ is derived from the Japanese word for ‘pregnant’ which is representative of the Harami candlestick pattern.
What is a harami candlestick pattern on a NASDAQ 100 E-mini futures contract?
The chart below of the Nasdaq 100 E-mini Futures contract shows an example of both a bullish and bearish Harami candlestick pattern: The first Harami pattern shown on Chart 2 above of the E-mini Nasdaq 100 Future is a bullish reversal Harami. First, there was a long bearish red candle. Second, the market gapped up at the open.
Which Candlestick is most reliable?
According to the book Encyclopedia of Candlestick Charts by Thomas Bulkowski, the Evening Star Candlestick is one of the most reliable of the candlestick indicators. It is a bearish reversal pattern occurring at the top of an uptrend that has a 72% chance of accurately predicting a downtrend. What is a Marubozu Candlestick?
What does a green marubozu candle mean?
A green Marubozu candle occurs when the open price equals the low price and the closing price equals the high price and is considered very bullish. A red Marubozu candle indicates that sellers controlled the price from the opening bell to the close of the day so it is considered very bearish.
