The three white soldiers and three black crows is a foreign exchange trading strategy established price chart designs known as the three white soldiers and three black crows.
- The recommended time frame for trading while utilizing this strategy is 15 minutes upward.
- Applicable on all currency while trading with this technique.
- None of the foreign exchange indicators is required while trading with this strategy.
The Three White Soldiers Chart Design
The three white soldiers’ pattern is a bullish regression chart design and comprises of three bullish bars. This is how they are created:
- The market condition has to be in a downward trend.
- You have three green bullish bars that create continuously while providing you the 3 white soldiers’ chart design
The Three Black Crows Design
The three black crows chart design is a bearish regression bar chart design and comprises of three bars. This is how it is created:
- The market condition has in an upward trend.
- Three bearish bars create continuously while providing the three black crows design pattern.
The Trading Rules for the Strategy
- If a 3 white soldier is created, position a purchase order three to five pips higher up the high of the third bar or if a three crows create, position an auction stop order three to five pips beneath the low of the third bar.
- Position your stop-loss higher up the third bar’s high if you positioned an auction or position a stop-loss beneath the third bar’s low if you started a purchase stop order.
- Take-gain may be position aiming prior swing highs or lows (peaks or bottoms).
- Maneuver stop-loss to break even then the price shifts by the value risked or maneuver stop-loss to break even when the price has created a swing high or a swing low.
- Master to take limited gains off the table when the price shifts at least half-way point to hit your take-gain aim level.
The position where these chart designs create is very crucial. You will be able to trade these designs in areas of pivot levels, Fibonacci levels, and support and resistance levels.
Utilize this strategy at your own risk. WindsorForex.com cannot be responsible for any losses associated with using any strategy presented on the site. It’s not recommended to utilize this strategy on the real account without testing it on demo first.