Three Soldiers Pattern
The three Soldiers Pattern is a continuation pattern and it is comprised of three candlesticks. The pattern is sometimes also called Three White Soldiers or Three Advancing White Soldiers. Perhaps these names come from the black and white charts. The pattern is comprised of three bullish candlesticks in a row. The consecutive bullish candlesticks show a steady rise in the price and the continuation of the ongoing uptrend. The pattern is considered stronger when it appears in a consolidation phase.
Each candlestick in this pattern should appear within the body of the previous candle. The closing of the candlesticks should also be near or at the high meaning that the upper wick should either be small or not present at all. Finally, the size of the candlesticks should remain relative which means a long candlestick needs to be followed by an equally long candlestick.
To completely understand the Three Soldiers pattern let’s take a look at the following NZD/USD chart. You can see the pair was trending up but then around 0.6100 it entered a consolidation phase. Now towards the end of the consolidation phase, a Three White Soldiers pattern emerged. The pattern has three bullish candlesticks and all three of them have closed above each other. The pattern indicated the continuation of the uptrend and the pair soon moved higher towards 0.6550.