Bearish Belt Hold

Read about it at

• http://www.investopedia.com/terms/b/bearishbelthold.asp#axzz1liWBGXQe

• http://blog.nobletrading.com/2009/03/bearish-belt-hold-candlestick.html

Bearish belt hold is a trend-reversal candlestick pattern indicating the beginning of a new downtrend after a significant uptrend. It is a single candlestick pattern formed of a long black (colored or bearish) candlestick, which is an opening marubozo (have no upper shadow). Bearish belt hold candlestick occurs frequently and is considered less reliable and thus confirmation of trend change is necessary.

Reliability of bearish belt hold candlestick is low; reliability increases with increase in real-body of the bearish candlestick, increase in trading volume and with weakening of the previous uptrend. The confirmation of trend-reversal can be a bearish candlestick, a lower gap opening or a lower close on the next trading day. Traders are also used to use other tools and indicators confirm price trends and to enter and exit trades.

Also one can see that yesterday's candle is engulfed totally by today's candle . So Bearish Engulfing as well ..this one requires a follow up action on price .

Todays day chart...

Let us see how prices unfold now on .