| Bullish 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 bulls day (white candle) is formed without any lower shadow and a close near the day's high.
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 low of the day and the currency pair trends up all day leaning bullish is not enough - so it is better to note the overall trend and seek confirmation with an additional up day.
The opposite of Bullish Belt Hold is Bearish Belt Hold
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