strong break-out aligned with the market bias Part of another candlestick pattern (discussed below). Candlestick patterns do NOT give price targets! 10 Doji star Reversal? A big black body means sellers are in power, and the trend is down. However, not only did the bearishness fail to materialise, it proceeded to erase more than half of the bearish gains from the first bar. If the doji forms in an uptrend or downtrend, this is normally seen as significant, as it is a signal that the buyers are losing conviction when formed in an uptrend and a signal that sellers are losing conviction if seen in a downtrend. When this bullish break-out of the inside bar fails, the market forms a short Hikkake setup.
Both the Hammer and the Hanging Man patterns look exactly the same. In fact, integrating both will greatly improve your price action analysis. You must always take into account the previous trend when interpreting candlestick patterns. This is particularly true when there is a high trading volume following an extended move in either direction. Thus, it is not surprising that many Harami candlestick patterns are also inside bars.
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That is your decision. Cftc rule.41 - hypothetical OR simulated performance results have certain limitations. Failure to seek detailed professional personally tailored advice prior to acting could lead to you acting contrary to your ownRead more