3 White Soldiers Candlestick Pattern
A 3 White Soldiers candlestick pattern is a group of 3 bullish candlestick patterns that leads to a rapid increase in price.
The 3 White Soldiers candlestick pattern can appear anywhere in an uptrend, but there are 3 locations within an uptrend where the pattern develops most commonly.
- When the 3 White Soldiers candlestick pattern develops at the beginning of an uptrend, it helps to establish the uptrend’s footing
- When the pattern develops in the middle of an uptrend, it usually signals that the uptrend is approximately half-way over
- When the pattern develops at the end of an uptrend, it usually signals a climax top
The first “Soldier” in a 3 White Soldiers Candlestick Pattern could also be a bullish reversal candlestick pattern, such as a Piercing candlestick pattern or a Bullish Engulfing candlestick pattern.
Requirements
Listed below are the requirements for a 3 White Soldiers candlestick pattern.[s2If !current_user_can(access_s2member_level1)]…..
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- It is a 3 candlestick pattern consisting of all green candlesticks (white candlesticks if your charting platform uses white and black instead of green and red for candlestick colors)
- Each of the 3 bullish candlesticks has a large real body and closes consecutively higher than the preceding candlestick
Characteristics & Observations
Here are some of the characteristics any my observations for 3 White Soldiers candlestick patterns.
- Most times it is a continuation pattern, meaning it continues the uptrend that is currently in place however as noted above when it ends in climax volume it can also represent a short-term top
- The most common places to find this series of candlestick patterns is at the beginning of a new uptrend, in the middle of a uptrend, and near the end of a uptrend
Support Area
Support for a 3 White Soldiers candlestick pattern is located between the top of the 1st bullish candlestick in the pattern and the bottom of the 3rd bullish candlestick in the pattern.
Trading Strategies
The size of the middle and third candlestick can help determine if the rally in the share price is losing steam or if the rally is still strong…
- If the real bodies of the candlesticks are progressively getting smaller in each of the 3 White Soldiers, the rally is running out of steam and a short-term consolidation period may be approaching; this could be an opportunity to lock in gains at high prices
- If the real bodies of the candlesticks are of equal size or are getting larger, the rally is still strong and purchasing shares during the next pullback may represent an opportunity to jump in on the trade the trend
Real Chart Examples
