The three white soldier pattern consists of three consecutive bullish green candles with each closing price higher than the previous one and long bodies showing overwhelming buying power
š¹ The appearance of three soldiers after a long accumulation period or at the end of a downtrend confirms the uptrend has officially started and is very hard to be reversed by seller
šø Unlike single candles the consensus of price increase over three consecutive sessions shows market sentiment has completely shifted from doubt to optimism and big money has entered
š¹ The best entry point is to wait for a slight correction after these three candles to get a better position instead of chasing immediately when the price has run too far
šø However if the three candles are too long with long upper wicks the market might have entered overbought territory and a short-term profit taking is imminent before further gain
Do you usually buy immediately upon seeing three green candles or patiently wait for a pullback?
This article is for reference only, this is not investment advice. Please read and consider carefully before making a decision.