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December 11, 2017

Question:What is Three White Soldiers of Japanese Candlestick chart on MT4?

Answer:

At the end of the downtrend or decline, the presence of three consecutive long white candlesticks signify the end of the downward move and the beginning of a new move in the opposite direction.

Each Marubozu opens below the previous close and concludes above it.

The upper shadows are very small if present – thus demonstrating the strength of the ascent.

After a prolonged downtrend or decline, traders enter the market aggressively with long positions, resulting in three consecutive long candlesticks that close higher than each other.

Demand is clearly greater than supply and sentiment is positive, these factors drive the market to rally higher.

The forceful control of the bulls, leaves the bears unable to react but to cover their short positions.

 Supply/Demand Demand is greater than supply.
 Sentiment Positive.
 Direction Bullish reversal.
 Trigger Consider buying if the next candlestick exceeds the high of the third long white candle.

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