Three Advancing Soldiers

Three Advancing Soldiers is a three-candle bullish continuation pattern.

The first candle of the pattern is a strong bullish candle. The open price of the next candle is within the body of the previous bullish candle. It closes higher than the previous candle high and turns out to be another bullish candle. The next candle also opens within the body of its previous candle and closes higher than the previous candle high. This formation is known as a Three Advancing soldier candlestick pattern.

Therefore, the Three Advancing Solider is a series of three bullish candlestick patterns. The Middle and last candle opens within the bullish body of the previous candle and closes higher than the high price of previous candle.

This formation is bullish and shows the strength of the bulls.  But at the same time, it also shows indicates exhaustion because price has been going up in last three sessions. There is a possibility of at least a pause. If this pattern is followed by a price consolidation or sideways and price corrects to the body or low of middle candle, then it provides a bullish pullback trade opportunity of buying at retracement when the price pattern is bullish. The stop-loss for the trade can be placed at the low of first candle of the pattern.

In real life, you may not get the same size bullish candles in the advancing soldier pattern. The body of the bullish candles shouldn’t be narrow to qualify for this pattern. If the body of the third candle is narrow, it indicates the possibility of the exhaustion. The chances of sideways of consolidation are more in such cases.

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This pattern can be plotted on the chart by adding it from the study menu in TradePoint & RZone. The pattern is also available in the system builder section. By combining this pattern with other patterns and indicators, you can create your own trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.

 

 

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