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Belt hold candle formed today. |
suryaarya25
White Belt
Joined: 08 Mar 2011
Posts: 3
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Post: #1  Posted: Tue Aug 09, 2011 4:12 pm Post subject: Belt hold candle formed today. |
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It seems ongoing downfall arrested now. today nifty formed belt hold candle. One confirmation is required to confirm this ( by next day's white candle).
What do u say friends? |
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #2 Posted: Tue Aug 09, 2011 5:13 pm Post subject: |
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suryaarya25
Its a bullish belt hold candle coming at previous support zone around 4950.
While looking for reversal using candlesticks, its better to rely upon major reversal signal. Bullish belt hold is not a major reversal signal.
thanks and regards
ravee |
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suryaarya25
White Belt
Joined: 08 Mar 2011
Posts: 3
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| Post: #3 Posted: Tue Aug 09, 2011 8:04 pm Post subject: Belt hold candle needs one confirmation next day's candle. |
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It needs confirmation by next day's candle. (it should be positive white candle on next day to confirm its bullish reversal).
Let us see tomorrow's candle. |
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