Three white soldiers candlestick pattern usually has a high success rate. It becomes an important signal for options traders in IQ Option. In this article, iqtradingpro will talk about Three White Soldiers candlestick pattern. How to identify candle pattern and trade options in IQ Option.
Register IQ Option and Get Free $10,000 Risk warning: Your capital might be at risk.
What is Three white soldiers candlestick pattern?
Three White Soldiers candlestick pattern is a bullish pattern. It often appears at the end of a bearish cycle to give signals of a trend reversal from downward to upward.
In IQ Option, 3 White Soldiers candlestick pattern is considered as a reliable signal to buy HIGHER (bullish) options. This is a reversal candlestick set that can be recognized easily.
Three white soldiers candlestick pattern consists of 3 consecutive bullish candlesticks (green). They satisfy the following 2 conditions.
• Opening and closing prices of the next candlesticks must be higher than the previous ones.
• The closing price of each candlestick must be close to the highest price. It means that the candlestick shadow is very short.
How to trade with Three White Soldiers candlestick pattern in IQ Option
This is the candlestick pattern appearing at the end of a downtrend. Therefore, you can only combine it with reversal indicators => Open HIGHER options.
Method 1: Three White Soldiers candlestick pattern combines with Support
Requirements: 5-minute candlestick pattern. Only open HIGHER options. The expiration time is 15 minutes or more.
Trading method: HIGHER = 3 White Soldiers candlestick pattern + Support level
Method 2: Three white soldiers candlestick pattern combines with RSI indicator in the oversold zone
Requirements: 5-minute candlestick pattern + RSI indicator. Only open HIGHER options that are 15 minutes or more.
HIGHER = 3 white soldiers candlestick pattern + RSI in the oversold zone (RSI moves up and cuts 30).
When Three White Soldiers candlestick pattern appears, the trend reversal probability is very high => It gives you safe entry points when trading IQ Option. Thus, be patient and take the opportunity.
If you find this article helpful, leave us a comment. In case you want to try this candlestick pattern, register for a free Demo IQ Option account in the box below. Thank you for following us!
Register IQ Option and Get Free $10,000 Risk warning: Your capital might be at risk.