Technical Analysis Training :
What is Bearish Belt Hold: Bearish Reversal Pattern?
Bearish Belt Hold is a bearish reversal pattern, appearing in an uptrend. In this pattern, the day opens at its high level, but then price falls and closes near its low, not necessarily at the lows of the day. The candle is a Black Opening Marubozu. It has very small lower shadow but no upper shadow.
Strategy: A confirmation with either a black candle, large gap down or a lower close on the next day can be used to initiate short positions.
What is Bearish Belt Hold: Bearish Reversal Pattern?
Bearish Belt Hold is a bearish reversal pattern, appearing in an uptrend. In this pattern, the day opens at its high level, but then price falls and closes near its low, not necessarily at the lows of the day. The candle is a Black Opening Marubozu. It has very small lower shadow but no upper shadow.
Strategy: A confirmation with either a black candle, large gap down or a lower close on the next day can be used to initiate short positions.
