The Three Black Crows or as otherwise known Three Soldiers are a formation of price continuation showing how the bears are taking control over the bulls to reverse the trend as we can see here.
Price comes down buyers try to push it back up only to be reversed by sellers overpowering them so it falls back down the buyers try again but realise the bear is the almighty and with that last attempt they withdraw from the market causing a big sell off with a strong downward movement when just the bears remain
key points:
- last attempt of the bulls
- price goes up and bears push price down every time
- bears in control after a long uptrend shows prelude to sell
Price comes down buyers try to push it back up only to be reversed by sellers overpowering them so it falls back down the buyers try again but realise the bear is the almighty and with that last attempt they withdraw from the market causing a big sell off with a strong downward movement when just the bears remain
key points:
- last attempt of the bulls
- price goes up and bears push price down every time
- bears in control after a long uptrend shows prelude to sell