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How to recognize Three White Soldiers?

1. Three long candles appear one by one; the closing price of every next candle is higher than the previous one.
2. The opening price of each candle stands in the middle of the previous body.
3. Each candle closes at the daily high or near it.

Scenario and psychology

The Three White Soldiers pattern can be witnessed during a downtrend. The model indicates a market reversal. Every next session opens lower than the previous one, but closes at a fresh peak. Such behavior points to a clear bullish trend; and it should not be ignored.

Flexibility

Opening prices of the second and third candles can be anywhere within the previous day. Still, the opening price is preferred above the middle of the preceding body. Remember that at the opening of a session there should be many bears so that the asset opens below the previous closing price.

Development

The Three White Soldiers pattern becomes a single very long white candle showcasing its bullish character.

The pattern is similar to the Advance Block and the Deliberation.

Three White Soldiers (aka sanpei)

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