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$STEV BEARISH HARAMI CROSS Chart Pattern!

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PyroStocks Member Level  Friday, 08/04/17 08:48:24 PM
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$STEV BEARISH HARAMI CROSS Chart Pattern!



Definition

This is a major bearish reversal pattern, which is even more significant than a regular Bearish Harami. The outline again looks like a pregnant woman, as with the Bearish Harami Pattern. However, now the baby is a Doji. Basically, the pattern is characterized by a white body followed by a Doji that is completely inside the range of the prior white body.

Recognition Criteria

1. The market is characterized by a prevailing uptrend.
2. A white body is observed on the first day.
3. The Doji that is formed on the second day is completely engulfed by the body of the first day.

Pattern Requirements and Flexibility

The Bearish Harami Cross consists of two candlesticks, in which the body of the first white candlestick engulfs the body of the following Doji. The body of the first candlestick may be short.
Trader’s Behavior

A bullish mood prevails in the market, and an uptrend is in progress. The first day’s candlestick is a white body, which further supports bullishness. The next day, however, prices open lower than the close, or at the close of the preceding day. What’s worse, the market closes at the same price as it opened. This implies a complete lack of decision, and an imminent reversal in the current uptrend.

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