Bearish Belt Hold Candlestick Pattern
The Bearish Belt Hold candlestick pattern is a bearish reversal candlestick pattern that can form anywhere in an uptrend or a downtrend; but analyzing where it develops is key. A Bearish Belt Hold candlestick pattern is easily identified due to its lack of an upper shadow.
When a Bearish Belt Hold develops, it means that sellers have had control of the share price for the entire trading session as the share price never pushed higher than the opening share price.
When trading opens, what typically happens is the share price only pushes lower and that's why there is no upper shadow for a Bearish Belt Hold candlestick pattern. The sellers have been in control for the entire trading session.
Listed below are the requirements for a Bearish Belt Hold candlestick pattern.
- It has a shaven top, meaning it has no upper shadow; if it does have an upper shadow, it must be very minuscule in nature
- The share price should close at or near the lows of the trading session
- Most Bearish Belt Hold candlesticks have red colored real bodies, however in certain instances it can also have a green colored real body
Characteristics & Observations
These are some of the characteristics and observations I have made with Bearish Belt Hold candlestick patterns......
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