๐ขPowerful Candlestick Patterns:๐ฃ๐ฎ๐ฟ๐-14
๐๏ธ14. Bearish Harami
๐นA bearish harami pattern is a two-candle pattern. A bearish harami pattern results from aย small body (Red) candle developing after a larger body (Green). Usually showing a possible bearish trend reversal, this pattern appears at the top of the price chart.
๐นThe bearish harami patternย is a strong bearish signal that suggests the market may be near a top or a significant high. The large bullish candlestick represents the buying pressure in the market, while the smaller bearish candlestick that follows shows the bears gaining control and driving prices lower. To bearish harami, one compares the bearish engulfing pattern, as both suggest the market may be near a top or a significant high.
๐นAccording to a study titled โThe Effectiveness of Candlestick Patterns in Financial Marketsโ conducted by Professor Wing-Keung Wong and his team at the Department of Economics, Hong Kong Baptist University, the bearish harami pattern has aย success rate of approximately 63%ย in predicting bearish reversals.ย
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