There is a candlesticks pattern that is called the Three White Soldiers. It typically occurs when the strong downtrend is reversing into the strong uptrend.
Today, I want to teach you some basic rules about trading with the three white soldiers pattern.
How to recognize the three white soldiers candlesticks pattern
As the name suggests, the pattern is formed by three candles. The candles are developing one after another and are green in color. Normally, the following candle’s open and close points are higher than the open and close of the former one. Moreover, none of the three candles can be a special one like Doji or pinbar.
It was mentioned earlier, that the three white soldiers pattern usually appears when the downtrend is coming to an end and the uptrend is developing. It is a bullish trend reversal pattern. This means that when you identify this pattern, it is time to place a buy order. In the above chart, I was trading 15-minute candles and when I spotted the three white soldiers, I could successfully enter the trade for 30 minutes or even longer.
Where exactly should you enter the trade? Any of the three soldiers would be a good point. Nevertheless, the ideal situation would be to enter at the first candle in the pattern.
Having learned the basic knowledge about the three white soldiers candlesticks pattern, test it on the Olymp Trade demo account. Share your opinions with us.
Best of luck!
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