Indicators and patterns
11/13/2024
Indicators and patterns
The indicator and pattern identified is the Harami Pattern on the USD/JPY currency pair, observed on the 30-minute timeframe chart.The Harami Pattern is a two-candlestick pattern that indicates a potential reversal in the current trend. In this case, the pattern is bearish, suggesting a possible downward movement in the price of USD/JPY.
The signal generated by this pattern is to sell, as it implies a shift from bullish to bearish sentiment in the market. The pattern consists of a large candlestick followed by a smaller candlestick that is completely engulfed by the body of the first candlestick. This indicates indecision in the market and a possible reversal in the price direction.
In this specific instance, the Harami Pattern occurred at a price of 154.99001 on November 13, 2024, at 15:30. Traders and investors may interpret this pattern as a potential opportunity to enter a short position or to consider the possibility of a downward price movement in the near future.
This is not investment advice. Remember to verify the information provided here.
Get access to the full analysis
- Over 35 000 indexes
- CFD, Forex, Crypto and Stocks Exchange
- Over 150 Indicators
- Pattern and candle analysis
- Support and resistance levels
- Fundamental, technical and sentimental analysis
- Power from AI
