Saturday, December 14, 2013


We may be at a market top or at the start of a correction. The market ran out of steam and the traders are now more in agreement about the bearishness. The evidence is strong enough to prompt the closing of long positions. The bearish pattern that was previously identified is finally confirmed and a SELL signal is generated.

The BEARISH HARAMI CROSS pattern finally received a confirmation because the values crossed the confirmation level which was at 6,194.50
This is a major bearish reversal pattern, which is even more significant than a regular Bearish Harami. The outline again looks like a pregnant woman, as with the Bearish Harami Pattern. However, now the baby is a Doji. Basically, the pattern is characterized by a white body followed by a Doji that is completely inside the range of the prior white body

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