Llewelyn James

“Price must be above $5.00 20 day Volume average must be above 100,000. On the first day of the bullish engulfing pattern, the SPY must have a 40 day MA above a 120 day MA. The ROC(252) of the stock must be above 0 on the first day of the pattern. The low of the first day of the pattern must be the lowest low in the past 20 days. If all rules are met, buy on the next day open. Apply a profit target that is 6% higher than the entry price. If the profit target is not hit….”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.

“I tested all bullish harami candles on a sample period that was a raging bull market, the returns would probably be fantastic, simply because buying the market at any time wold have likely produced a winning trade.”
― Llewelyn James, The Honest Guide to Candlestick Patterns: Specific Trading Strategies. Back-Tested for Proven Results.