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December 11, 2017

Question:What is Harami of Japanese Candlestick chart patterns on MT4?

Answer:

A small candlestick body of either colour follows a candlestick of a long black body.

The colour of the small candlestick is not important.

The bearish decline is running out of steam as shown by the presence of the small candle which signals uncertainty, as it is contained by the previous long body.

The weakness of the market to push prices lower and the presence of the pattern at the end of a decline, signals possible bullish implications.

After a prolonged decline traders continue to trade in the direction of the prevailing trend until the market enters a phase of uncertainty, as traders are not willing to move the market lower nor higher at the moment.

The fact that, price action has been contained within the previous session’s open and close, it manifests weakness to move lower and a possible bullish reversal.

 Supply/Demand Equilibrium.
 Sentiment Neutral.
 Direction Possible bullish reversal.
 Trigger Consider buying if next candle exceeds the high of the long candle

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