What is Bullish Belt Hold: Bullish Reversal Pattern?
Bullish Belt Hold is a bullish reversal pattern, appearing in a downtrend. In this pattern, the day opens at its lowest level, but then stock begins to move up and closes near its high, but not necessarily at the highest point of the day. The candle is a White Opening Marubozu. It has a very small upper shadow but no lower shadow.
Strategy: A confirmation with either a white candle, large gap up or a higher close on the next day can be used to initiate long positions.
Bullish Belt Hold is a bullish reversal pattern, appearing in a downtrend. In this pattern, the day opens at its lowest level, but then stock begins to move up and closes near its high, but not necessarily at the highest point of the day. The candle is a White Opening Marubozu. It has a very small upper shadow but no lower shadow.
Strategy: A confirmation with either a white candle, large gap up or a higher close on the next day can be used to initiate long positions.