harami cross is a rare candle stick pattern…
was familier with the pattern , but not its significance, so had to go back to the books…
turns out to be a good reversal signal…
excerpt from nison’s original text on candle sticks, which got the western world in total frenzy in 1990s…
As mentioned, a doji preceded by a long real body is called a harami
cross. The harami cross carries more significance than a regular harami
pattern. Where the harami is not a major reversal pattern, the harami
cross is a major reversal pattern. A harami cross occurring after a very
long white candlestick is a pattern a long trader ignores at his own peril.
Harami crosses also call bottoms, but they are more effective at tops.
here is the part , if any one is interested for more details…
so as mentioned, it is more significant at the top, incase of the candle formed by persistent today…it is at support
it formed at the 50ema, so might be a very interesting candle…
monday will be a day to watch…