As of 12/20/2024
Indus: 42,840 +498.02 +1.2%
Trans: 15,892 +32.54 +0.2%
Utils: 986 +14.76 +1.5%
Nasdaq: 19,573 +199.83 +1.0%
S&P 500: 5,931 +63.77 +1.1%
|
YTD
+13.7%
0.0%
+11.9%
+30.4%
+24.3%
|
 44,200 or 41,750 by 01/01/2025 16,100 or 17,700 by 01/01/20251,050 or 975 by 01/01/202520,500 or 19,300 by 01/01/20256,100 or 5,775 by 01/01/2025 |
As of 12/20/2024
Indus: 42,840 +498.02 +1.2%
Trans: 15,892 +32.54 +0.2%
Utils: 986 +14.76 +1.5%
Nasdaq: 19,573 +199.83 +1.0%
S&P 500: 5,931 +63.77 +1.1%
|
YTD
+13.7%
0.0%
+11.9%
+30.4%
+24.3%
| |
|
44,200 or 41,750 by 01/01/202516,100 or 17,700 by 01/01/20251,050 or 975 by 01/01/202520,500 or 19,300 by 01/01/20256,100 or 5,775 by 01/01/2025 | ||
My book,
Encyclopedia of Candlestick Charts
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The bullish harami cross is another candlestick with good potential, but it acts almost randomly. Just 55% of the time price continues the bearish trend. That is two percentage points better than the bullish harami. The chief difference between the two candle patterns is that the second day is a doji that fits inside the prior day. A doji is a candlestick in which the opening and closing prices are within pennies of each other.
After the breakout, the price trend ranks 50, which is mid list out of 103 candle patterns. That suggests the trend does not last long.
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Theoretical performance: Bullish reversal
Tested performance: Bearish continuation 55% of the time
Frequency rank: 47
Overall performance rank: 50
Best percentage meeting price target: 74% (bull market, up breakout)
Best average move in 10 days: 4.52% (bear market, up breakout)
Best 10-day performance rank: 36 (bull market, up breakout)
All ranks are out of 103 candlestick patterns with the top performer ranking 1. "Best" means the highest rated of the four combinations of bull/bear market, up/down breakouts. The above numbers are based on hundreds of perfect trades. See the glossary for definitions. |
 Bullish Harami Cross
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As with many candle patterns that I tested, theory disagrees with reality. The bullish harami cross is no exception. It is supposed to act as a bullish reversal of the downward price trend, but price continues falling 55% of the time. That is what I consider "near random." In other words, the candlestick offers no help in determining the breakout direction.
The best percentage move 10 days after the breakout is a rise of 4.52% in a bear market. I consider moves of more than 6% to be good, so the post breakout trend is weak.
| Characteristic | Discussion |
| Number of candle lines | Two. |
| Price trend leading to the pattern | Downward. |
| Configuration | Look for a two candle pattern in a downward price trend. The first line is a tall black candle followed by a doji that fits within the high-low price range of the prior day. |
If you want a few bones from my Encyclopedia of candlestick charts book, here are three to chew on. The pages refer to the book where the tips appear.
The chart shows a bullish harami cross (circled in red) in a downward price trend on the daily chart. The downtrend meanders lower instead of the straight-line runs that I like to see. The breakout from this candle pattern is upward when price closes above the top of the bullish harami cross. That takes about two weeks to happen, but happen it does. The uptrend is short lived, though, as the chart shows. Since the primary trend before the pattern began was downward, the price trend resumes falling during the trading doldrums of August.
-- Thomas Bulkowski
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