Bullish Belt Hold

B

Bullish Belt Hold is a bullish reversal Japanese candlestick pattern, appearing in a downtrend. It consists of a single candlestick that has gapped down at the open of the bar. From its opening point, it rallies higher, and closes near its high, but not necessarily at the highest point of the session. Shorts, who entered positions at the open of the bar, have been caught on the wrong foot, adding to the buying frenzy. It is important to note that the length of the body should be long. The greater the length, the more significant is the reversal signal. Since the bullish belt hold is a single candlestick pattern, it is necessary to wait for confirmations like a gap up or another higher closing price, before placing a trade.