Three Advancing White Soldiers Candlestick Pattern

The three advancing white soldiers is a bullish candlestick pattern that appears at areas of low prices and suggests higher prices ahead. Each of the three bullish candlesticks should open at a price level that is within the previous bullish candlestick’s real body and the bullish candlestick should close near its own high. Essentially, the open, high, low, and close of the bullish candlesticks of the three white soldiers should be higher than the previous day’s bullish candlestick open, high, low, and close.

Three White Soldiers Candlestick Chart Example

The chart above of the Nasdaq 100 ETF (QQQ) shows a three white soldiers candlestick chart example. The three bullish candlesticks burst upward from the area of support (shown with the blue line). Notice how each of the three bullish candlesticks closes near its own high price, thus having a very small upper shadow. Also, each of the candlesticks makes a higher high and a higher low than its previous candlestick’s high and low.

Works Referenced

1. Nison, S. (2003) The Candlestick Course. Hoboken: John Wiley & Sons.
2. Nison, S. (1994) Beyond Candlesticks: New Japanese Charting Techniques Revealed. New York: John Wiley & Sons.
3. Nison, S. (1991) Japanese Candlestick Charting Techniques. New York: New York Institute of Finance.
4. Rhoads, R. (2008) Candlestick Charting For Dummies. Hoboken: Wiley Publishing.
5. ThinkorSwim. (2011). ThinkorSwim Resource Center: Candlestick Patterns Library.