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Three White Soldiers is a candlestick pattern which is very difficult to see but very accurate signals. This is the contrast pattern of the Three Black Crows.
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Three White Soldiers
Identifying characteristics
Three White Soldiers pattern is 3 adjacent bullish candles. In which the opening price of the next candle is in the body of the previous candle. And the closing price of the candles should be close to the high and above the opening price. Forming three steps upwards showing steady growth. This is the Three White Soldiers candlestick pattern.
Three White Soldiers Model Meaning
It shows that market sentiment has a strong change. When candles have short shadows or no shadows, it can be understood that buyers are causing prices to go up. The next market trend will be a sharp increase in price and if the short shadow and the long body, the possibility is highest.
The Three White Soldiers candlestick pattern can support other candlestick patterns and indicators to identify trend reversal points.
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How to trade with the Three White Soldiers
The best time to trade is at the end of the pattern means the end of the third candle. The market will increase in price then you should buy it.
Indicator support
The Three White Soldiers pattern serves as support because it can not use it as a lead signal. Efficiency in supporting other indicators of it is great. For example, when the RSI indicator is oversold for a long time, then the Three White Soldiers pattern appears, at which time the RSI indicator tends to go up, this is the time when the price reverses up.
Short shadow
The higher the candlestick shadow, the higher the reliability of the pattern. If the closing price is equal to the peak, the pattern has the highest reliability.
Long body
The longer the candle proves that the price is being strongly affected. Because when seeing the price increase like that, most traders startle and follow the trend.
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