A single long candle whose open is the extreme low (or high), running one direction with almost no wick on the opening side. The missing wick records a decision made the instant the bar opened, a reversal signal driven by the absence of hesitation.
The Belt Hold Line is a single long candle whose open lands at the extreme of the bar itself.
A Bullish Belt Hold opens at the low after a decline, then is bought up to the high end without ever trading back down, closing near its high. The opening side, the bottom of the bar, carries almost no wick.
A Bearish Belt Hold is the same shape flipped vertically. After an advance it opens at the high, leaves almost no upper wick, and is sold down to the low end before closing. A long bearish candle.
How to Read
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The Japanese name calls it a "shaven head" (bozu), likening a wickless candle to a clean-shaven head. Where the Marubozu (a full shaven head) has no wick on either end, the Belt Hold is shaven on the opening side only.
The heart of the form is a single fact: the open was the extreme. The moment price opened became the lowest (or highest) price of the bar, and it never went back. The direction was already decided the instant after the open. That speed of decision is what this one candle means.
How to Read
OANDA:USDJPY
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