Pattern Detail

Bullish Belt Hold

Single strong up candle after a fall: it gaps below the prior low, opens at its bottom, and rallies with no lower wick.

A real Bullish Belt Hold on NQ daily bars, Feb 10, 2020. Price then followed through 1.5% over the next 5 bars. The bright candles are the pattern; the dimmed bars are surrounding context.
A real Bullish Belt Hold on NQ daily bars, Feb 10, 2020. Price then followed through 1.5% over the next 5 bars. The bright candles are the pattern; the dimmed bars are surrounding context.

Shown only on the markets where this pattern occurs.

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How to read this

Everything here is in R, the setup's own risk. 1R is the distance from the entry (the pattern's closing price) to where it would be proven wrong — its lowest low over the 1 bar that form it. So "offered 2R" means price ran twice that distance in your favor at some point before the stop. It does not assume you took profit there: a target is a strategy choice.

Room offered (≥ 1R)

63.2%

Too few to trust

Offered at least 1× its risk before the stop, vs 38.6% for a random long entry (+24.6 pts).

Move size vs normal

1.19×

Realized range over the next 20 bars vs a random bar. Precedes a bigger move.

Typical room (20-bar)

1.32R

Average run in favor (capped at 3R), vs 1.02R for a random long entry.

Summary

The 24.6-point gap over the 38.6% random-entry rate clears the ±21.9-point margin of error, but it has been fading over the sample. Treat with caution.

Room offered, this setup vs a random long entry

Only 19 occurrences. The breakdown below is shown in full, but a sample this small is anecdotal, a hint, not a measured edge. That is usually a limit of available history, not a flaw in the pattern. For a firmer read, try a lower timeframe or a more active instrument.

Outcome This setup Random entry Edge
Offered ≥ 1R 63.2% 38.6% +24.6
Offered ≥ 2R 21.1% 28.1% -7.1
Offered ≥ 3R 15.8% 21.3% -5.5
Stopped < 1R 31.6% 61.1% -29.5
Went sideways 5.3% 0.3% +5.0

19 occurrences · 351,100 random-entry controls · 20-bar horizon

A bullish belt hold is a single candle that grabs control after a fall. It gaps open below the previous candle’s low, then never looks back. Price opens right at the bottom of the bar and climbs all day, leaving no lower wick. That long up candle starting from its own low shows buyers seizing the session from the first tick.

The belt hold is one of the single-candle signals Steve Nison describes in Japanese Candlestick Charting Techniques (1991), a long candle opening at its extreme.

How to spot it

  • The market is falling into the pattern.
  • The candle gaps open below the previous candle’s low.
  • It opens at or very near its own low, with no lower wick.
  • It is a strong up (green) candle that climbs from the open.
  • The longer the body and the cleaner the bottom, the stronger the hold.

The dashed box on the chart above marks the belt hold and the bar before it, on a real occurrence.

The psychology

The gap below the previous low is the sellers making one last statement. Price opens beneath everything that came before, which is exactly where bears want it after a fall. For a moment they look fully in command.

That command lasts a single tick. Price opens at the very bottom of the bar and never trades lower, then climbs through the whole session. The absence of a lower wick is the tell: buyers met the open and pushed from the first moment, giving sellers no chance to extend the gap. By the close, the bar that started as a fresh low has become a long run higher, and anyone who sold into that gap is already underwater. The longer and cleaner that body, the more convincingly buyers have taken the day.

Whether grabbing one session like that leads anywhere further is what the numbers below weigh.

Does it actually work?

A pattern is a setup, not a trade, so the honest question is not “did it win” but “how much room did it tend to offer before it was proven wrong.” The tabs below answer that across five futures markets (Nasdaq, S&P 500, gold, crude oil, natural gas) and seven timeframes from one minute to one day.

For each occurrence we measure the room the move offered in units of the pattern’s own risk, then set it against what a random entry on the same market would have done. When the pattern offers more room more often than chance, that shows up as a real edge. When it does not, the page says so plainly.

Read it with the sample size in view. On the faster timeframes a pattern can fire thousands of times, enough to trust. On the daily chart it is far rarer, so treat those numbers as a hint rather than a verdict. Thin samples are flagged for you on the page.

How we measured it

  • Entry is the close of the final candle of the pattern.
  • One unit of risk, 1R, is the distance from that close down to the pattern’s invalidation point: the lowest low of the candle itself. If price trades through there, the setup is wrong.
  • We then follow the next 20 bars and record how far price ran in your favor, in multiples of that risk, before the stop was hit.
  • Every figure is set against a random entry on the same market and timeframe, so the market’s own drift is accounted for.
  • No profit target and no position sizing. Where you take profit is a strategy choice; this measures only the room the pattern tends to give.

What this page does not cover

  • Volume on the pattern’s candles.
  • Whether the pattern forms at a meaningful support level.
  • Pairing it with a trend filter or a confirming signal.
  • A profit target or position sizing. We use the pattern’s own invalidation point as the stop to define risk, but where you take profit, and how much you put on, are strategy decisions this page leaves to you.

Sample Bullish Belt Hold Firings (19)

Based on data through Apr 29, 2026

Time Risk (pts) Room offered Result
Mar 5, 2026, 8:30 AM CST 108.5 1.07R Ran ≥1R
Aug 18, 2025, 8:30 AM CDT 47 0.05R Stopped
Jun 2, 2025, 8:30 AM CDT 118.5 0.45R Stopped
Jun 5, 2023, 8:30 AM CDT 38.5 1.70R Ran ≥1R
Dec 2, 2022, 8:30 AM CST 57.5 0.18R Stopped
Oct 6, 2022, 8:30 AM CDT 62.25 1.12R Ran ≥1R
Apr 18, 2022, 8:30 AM CDT 63.5 0.31R Stopped
Jul 29, 2021, 8:30 AM CDT 44.5 1.29R Ran ≥1R
Feb 10, 2020, 8:30 AM CST 36.25 1.77R Ran ≥1R
Dec 9, 2019, 8:30 AM CST 10.25 2.83R Ran ≥1R
Sep 18, 2015, 8:30 AM CDT 21 1.26R Ran ≥1R
May 25, 2015, 8:30 AM CDT 2 3.00R Ran ≥1R
Jul 10, 2013, 8:30 AM CDT 6.75 1.33R Ran ≥1R
Mar 11, 2011, 8:30 AM CST 16 0.09R Flat
Aug 12, 2009, 8:30 AM CDT 6 3.00R Ran ≥1R
Sep 11, 2008, 8:30 AM CDT 5.25 3.00R Ran ≥1R
Jul 17, 2008, 1:25 PM CDT 4.5 0.00R Stopped
Feb 29, 2008, 8:30 AM CST 2.75 0.91R Stopped
Feb 5, 2008, 8:30 AM CST 7.5 1.70R Ran ≥1R

Sample backtest

Real backtested runs of this pattern, with commissions and slippage. Open one for the full equity curve and metrics, or backtest it yourself on your own contract and dates.

Backtest this pattern

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