Harami patterns are two bar patterns. The first bar is a large bar which usually has no wick or shadow. The second bar is a smaller bar that may be a doji, and typically gaps from the first day’s close. The gap will be up from the close if a bullish reversal and down from the close if a bearish. They are typically bullish (green/white) on the second day if the first was bearish (red/black), or bearish on the second day if the first was bullish.
The smaller bar is the key to the Harami pattern. The shrinking of the bar size from large to small indicates market indecision that may result in a reversal. As the second bar gets smaller, the chance of an impending reversal increases. When the two bars differ in color, the chance of reversal is even higher.
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International Economic Analysis:
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- Mandates of Central Banks versus Expectations
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