Candlestick Patterns- Bullish Belt Hold

Bullish Belt Hold

The bullish belt hold is one of the better performing candlesticks that I researched.
It acts as a bullish reversal often, placing its rank at 11 out of 103 (where 1 is best) and
it occurs frequently in nature (ranking 22). Overall performance is well back of the pack, though: 62.
That is because the return over 10 days is lousy when compared to other candle patterns.

How to identify

  1. Long white day where the open is equal to the low.
  2. No lower shadow.

Psychology

A significant gap down occurs. The remaining price action for the day occurs to the upside. This triggers a buying spree.
Shorts cover their positions due to concern over this price action.

Be the first to comment on "Candlestick Patterns- Bullish Belt Hold"

Leave a comment

Your email address will not be published.


*


Do you want regular updates?
Click the Allow button below to get our new updates.