Even when the harami (a big body followed by a small body inside, thats call it pregnant) is one of the weakest 2 candles reversal signal when its formed at resistance levels gets more importance.
In this chart the context offer this increassed meaning to the harami, because we have at least 3 resistance just at where the price seemed to stall the rally.
If you look at the daily chart you can find near this zone a support where the reversal will be even more probable.
For the weekly traders this wont be a entrance signal but a take profit one due the momentum (showed by the AO) shows an impulse with intentions to one more push to the upside,
Ill recommend to wait until the AO makes a clear cross over and a weekly reversal to the upside forms to re enter the market for this time frame. Also will be preferable if the price is near or a bit beyond the lower side of the channel
In this chart the context offer this increassed meaning to the harami, because we have at least 3 resistance just at where the price seemed to stall the rally.
If you look at the daily chart you can find near this zone a support where the reversal will be even more probable.
For the weekly traders this wont be a entrance signal but a take profit one due the momentum (showed by the AO) shows an impulse with intentions to one more push to the upside,
Ill recommend to wait until the AO makes a clear cross over and a weekly reversal to the upside forms to re enter the market for this time frame. Also will be preferable if the price is near or a bit beyond the lower side of the channel