Bullish Harami ~ Reversal Candlestick Signal

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

Now today lets have look at Bullish Harami Candlestick Signal. 

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

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

Now lets understand this step by step.

Day 1 or Candlestick or Trend

Underlying trend must be downtrend or candle must have closed in red or significant lower than opening levels or in other words current candle should be in negative 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. 

Lets try to understand via simple numerical example.

Day 1 

Open 100 
High 102
Low 87
Close 90

Day 2

Open 93 
High 96
Low 92
Close 95

By this example we hope that this candlestick signal 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.