Question: What is "Belt Hold" of Japanese Candlestick chart patterns on MT4?
It forms at the end of a decline or near a support area.
The candle has a long white body and very small or non-existent lower shadow. The session opens near the low and closes near the high of the candlestick.
A long white body at the end of a decline reveals the determination of the bulls to push prices higher.
After a prolonged decline, prices reach attractive levels triggering long positions as a result of buyers entering the market. This causes demand that surpasses supply.
| Supply/Demand | Demand is greater than supply. |
|---|---|
| Sentiment | Positive |
| Direction | Bullish. |
| Trigger | Consider buying if next candle exceeds the high of the Belt Hold. |
