Bearish Harami ~ Reversal Candlestick Signal

We have already gone through Bullish Harami Candlestick Signal; which is reversal candlestick and sometime it gives cautious approach prior to reversal of trend. 

Now today lets have look at Bearish Harami Candlestick Signal. 

This candlestick formation is Trend Reversal from Bullish to Bearish Trend and it is 2 candlesticks signal pattern. 

Lets have look at different charts and try to understand Bearish Harami candlestick signal first.

Now lets understand this step by step.

Day 1 or Candlestick or Trend

Underlying trend must be uptrend or candle must have closed in green or significant higher than opening levels or in other words current candle should be in positive wrt to previous close. 

Day 2 Piercing Candlestick 

Opening must be between opening and closing level of previous candle/day. Further close of current candle must be between previous day opening and closing levels only. This formation if doji candle is found then it can be said as perfect set-up for this reversal candlestick signal. Please note candle color does not make any big difference in this setup. 

Lets try to understand via simple numerical example.

Day 1 

Open 100 
High 112
Low 98
Close 110

Day 2

Open 104 
High 106
Low 103
Close 105

By this example we hope that this candlestick signal pattern is clear to all of you. 

Please note till now we have already discussed Bearish Engulfing, Bullish Engulfing, Evening Star, Morning Star, Dark Cloud Cover & Piercing Candlestick Signals. In coming sessions we shall discuss more. 

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Please note these candlesticks signals may or may not act as reversal as there are several factors which affects price movement of underlying asset.

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Please note this blog post is for education purpose only. While utmost care is taken while writing this post but any human error cant be ruled out and we apologize for same in advance.