Today's candle is a Neutral candle. A Neutral candle identifies a session that closes midway between its high and low price of the session. Similar to a Doji candle that forms early in a trend the Neutral candle also indicates a pause in the market. Some traders might call this a bearish Harami however it is not. This candle has the form of a Harami however a valid Harami candle pattern must come after a long upward trend that has become overbought.
So how do we make trade decisions based upon this candle?
I must now wait another day to see if this market is going to start to trend upward or reverse back downward before considering a trade. In reality, I am only interested in a Short trade setup to develop so I can re-enter this market Short as this market is currently in a downward trend.
Click on the above chart to review Part 4 of this tutorial
PLEASE GIVE ME A THUMBS UP if you agree with this trading tutorial to help me become a TOP AUTHOR. Also please leave a comment on how I can improve the tutorial.
Have an analysis Question? Feel free to send me a private message I enjoy sharing.
So how do we make trade decisions based upon this candle?
I must now wait another day to see if this market is going to start to trend upward or reverse back downward before considering a trade. In reality, I am only interested in a Short trade setup to develop so I can re-enter this market Short as this market is currently in a downward trend.
PLEASE GIVE ME A THUMBS UP if you agree with this trading tutorial to help me become a TOP AUTHOR. Also please leave a comment on how I can improve the tutorial.
Have an analysis Question? Feel free to send me a private message I enjoy sharing.
