Three White Soldiers:

Three White Soldiers

Type :  Reversal
Direction : Bullish
Prior Trend : Bearish
Reliability : High

Three white soldiers is a very highly reliable bullish reversal candlestick pattern. It consists of three long bullish candlesticks formed in a downtrend after a bearish candlestick.

How to recognize three white soldiers pattern:

1) The market is in a downtrend.

2) Three long bullish candlesticks forms in the downtrend.

3) Each bullish candlestick closes above the previous candlestick.

Important factors:

1) Do not use this pattern for entry in Asian market session if there is a strong downtrend. Because once the London market session starts the price will reverse and may follow the downtrend.

2) When you are entering the trade make sure that the price is not in the overbought region.

3) When the price is in a strong downtrend and you entered a long trade after seeing three white soldiers make sure you move your stop loss above the entry after you got some profit. Also if any evening doji star or a bearish engulfing candlestick is formed try to exit the trade as it may be an indication of the continuation of the downtrend.

Some of the real time examples of three white soldiers for different currency pairs:

EURUSD Hourly Chart:

EURUSD Hourly Chart Three White Soldiers

GBPJPY Hourly Chart:

GBPJPY Hourly Chart Three White Soldiers

GBPUSD Hourly Chart:

GBPUSD Hourly Chart Three White Soldiers

USDCHF Hourly Chart:

USDCHF Hourly Chart Three White Soldiers

EURJPY Four Hour Chart:

EURJPY Four Hour Chart Three White Soldiers

GBPAUD Four Hour Chart:

GBPAUD Four Hour Chart Three White Soldiers

GBPNZD Four Hour Chart:

GBPNZD Four Hour Chart Three White Soldiers

USDCAD Four Hour Chart:

USDCAD Four Hour Chart Three White Soldiers