Pros:
Simple to recognize Potential for high-reward trade because the pattern occurs at the start of a bullish trend

When combined with other technical indicators such as the MACD and Fibonacci support and resistance levels, this chart pattern is extremely effective.
Cons:
Considered a low-risk trade because you enter a long position at the bottom of a downward trend.
Other technical indicators are required to confirm the trend.
The pattern does not occur on a regular basis.

The bullish harami candlestick pattern is a two-candle formation signalling a potential reversal from a downtrend. Its pros include being a relatively simple pattern to identify, even for beginners. It often appears at the end of a bearish trend, offering traders an early signal to anticipate bullish momentum. When combined with other technical indicators, it can improve the accuracy of predictions.

However, the pattern has notable cons. It is considered a weak reversal signal on its own and requires confirmation from subsequent price action or volume. False signals are common, especially in choppy markets. Additionally, its reliability depends on context, such as support levels or market trends, making it less effective in isolation or during sideways movements.