Three consecutive strong up days, each opening within the previous body and closing near its high. Sustained buying across three sessions rather than a single burst.
Each candle should have a substantial real body and a short upper wick, showing that buyers held their gains into every close. Each open should sit inside the previous day's body — a series of gaps up is a different, more fragile thing.
Appearing after a decline or a long flat stretch, it is among the more convincing bullish formations, precisely because it takes three days of consistent demand to produce.
Compare the three bodies. Roughly equal sizes suggest steady accumulation; each one shrinking suggests buying is already tiring by the third day.
The main risk is arriving late. By the time three strong days have printed, a good deal of the move is behind you, and the pattern often marks a short-term overbought point rather than an entry.
Shrinking bodies with lengthening upper wicks across the three days is a warning rather than a confirmation — it is the advance-block variation, and it frequently precedes a stall.
In small and mid-caps, three strong closes can reflect one persistent buyer working an order rather than broad demand. Turnover well above the twenty-day average is what separates the two.