candle sticks

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Bearish belt hold

Candle Sticks

Candlesticks are graphical representations of price fluctuations for currency pairs.
Bearish belt hold

Definition

Bearish Belt Hold is a single candlestick pattern basically a Black Opening Marubozu that occurs in an uptrend. It opens on the high of the day and then prices begin to fall during the day against the overall trend of the market which eventually stops with a close near the low leaving a small shadow at the bottom of the candle. If longer bodies characterize the Belt Hold then the resistance they offer against the trend will be even much stronger.

Recognition Criteria

1. The market is characterized by a prevailing uptrend.
2. The market gaps up and opens at its high and closes near to the low of the day.
3. A long black body that has no upper shadow (a Black Opening Marubozu) is observed.

Pattern Requirements and Flexibility

A Black Opening Marubozu or a Black Marubozu (with no upper or lower shadow) should be seen and it should open higher than the two preceding white candlesticks.

Trader


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