The three white soldiers help to confirm that a bear market has ended and market sentiment has turned positive. In Candlestick Charting Explained, technical analyst Gregory L. Morris says "This type of price action is very bullish and should never be ignored."
This candlestick pattern has an opposite known as the Three Black Crows, which shares the same attributes in reverse.
- Candlestick Charting Explained by Gregory L. Morris. Published by McGraw-Hill. ISBN 0-07-146154-X
- Japanese Candlestick Charting Techniques by Steve Nison. Published by New York Institute of Finance. ISBN 0-7352-0181-1