| Bearish Candlestick Patterns |  | | |
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This Pattern signals a :
Reversal
Reliability of this pattern:
High
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This Pattern signals a : Reveral
Reliability of this candlestick pattern: Low
How to Identify:
Only One candle is involved in forming this pattern. On a daily chart, here's how it will unravel:- A long bears day (black candle) is formed without any upper shadow and a close near the day's low.
Market Psychology:
This pattern occurs quite often and is not considered very reliable. The fact that the day's opening price also ends up being the high of the day and the currency pair trends down all day leaning bearish is not enough - so it is better to note the overall trend and seek confirmation with an additional down day.
The opposite of Bearish Belt Hold is Bullish Belt Hold
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