The chart showing Series 1 series.
To see the performance of the pattern in your stock exchange in the context of other stock markets please examine the table below. Find your stock market there and see how it ranks among the others. This will give you an idea about the pattern’s strength and reliability and help you in your selling decisions.
This pattern indicates a strong reversal in the market. It is characterized by three normal or long candlesticks decrementing downwards. The opening of each day is slightly higher than previous close and prices progressively close at lower levels. This staircase like behavior signals the reversal of the trend.
Recognition Criteria
1. The market is characterized by a prevailing uptrend.
2. Three consecutive normal or long black candlesticks are observed.
3. Each candlestick opens within the body of the previous day.
4. Candlesticks progressively close at new lows, below the preceding day.
Pattern Requirements and Flexibility
The Three Black Crows consists of three consecutive normal or long black candlesticks. The last two candlesticks must open within the range of the preceding candlestick and close lower.
Trader’s Behavior
The pattern appears in a context where the market has stayed at a high price for too long. The market is still going up and it is now approaching a top or has already reached the top. Then we see a decisive downward attempt represented by the first black candlestick. Erosion of prices continues in the next two days characterized by lower closes. Bulls are now forced to take profits.
Sell/Stop Loss Levels
The confirmation level is defined as the last close. Prices should cross below this level for confirmation.

The stop loss level is defined as the last high. Following the bearish signal, if prices go up instead of going down, and close or make two consecutive daily highs above the stop loss level, while no bullish pattern is detected, then the stop loss is triggered.
Pattern Performance in Stock Exchanges since 1/1/2015
Stock Exchange 
Per Trade 
Total Net% Descending
CanadaCSE 53260.0066.6717.331.3316.00
Vietnam HNX 32266.67100.005.500.005.50
PortugalLISBON 119581.8255.565.440.335.11
USOTC PINK 24117510272.6158.297.722.635.09
CanadaTSX-V 28171060.7158.826.412.004.41
USAMEX 75553573.3363.645.891.844.05
SingaporeSGX 2113861.9061.544.310.463.85
RussiaMICEX 48332268.7566.674.821.003.82
Hong KongHKEX 36424814368.1357.664.821.023.81
IndonesiaIDX 56412673.2163.414.610.933.68
ThailandSET 72513070.8358.824.510.883.63
ChinaSZSE 106714166.9857.754.931.323.61
Poland GPW 66422563.6459.524.380.883.50
USNASDAQ 75954931872.3357.924.871.463.42
BelgiumBRUSSELS 33241572.7362.503.710.333.38
South KoreaKOSDAQ 48033320469.3861.264.651.323.33
South KoreaKRX 31023714376.4560.344.171.063.11
TurkeyBIST 27819411269.7857.734.080.983.10
ArgentinaBUE 111100.00100.
AustraliaASX 127865267.7260.473.810.832.99
PakistanKSE 1711288674.8567.
IndiaNSE 1725122869271.1956.354.251.332.92
EgyptEGX 39352089.7457.143.911.002.91
TaiwanGTSM 32822514668.6064.893.780.882.91
IndiaBSE 2174156388371.9056.494.291.402.89
IsraelTASE 92683273.9147.064.091.372.72
The World 123418736499470.8057.153.811.162.65
PhilippinesPSE 22151068.1866.673.330.872.47
CanadaTSX 1951398371.2859.713.290.842.45
MalaysiaBURSA 29191465.5273.682.740.372.37
JapanNAGOYA 43275.0066.672.670.332.33
SwedenSTOCKHOLM 123865069.9258.143.771.582.19
TaiwanTWSE 41628216267.7957.452.970.802.16
NorwayOSE 35201360.0061.903.901.762.14
UKLSE 35425614372.3255.863.120.982.14
ItalyBORSA 2021549576.2461.692.830.702.13
FrancePARIS 1661176870.4858.123.000.902.10
IndiaNSE 111100.00100.
BangladeshDSE 1771286772.3252.343.271.281.98
ChinaSSE 74451960.8142.223.241.331.91
USNYSE 78354531169.7356.962.510.621.89
JapanTOKYO 70148124968.6251.772.671.131.54
MexicoBMV 42291669.0555.172.280.761.52
BrazilBOVESPA 111723664.8650.002.711.191.51
GermanyXETRA 29822713076.1757.272.330.931.41
ArgentinaBUE 23161069.5762.502.941.561.38
Saudi ArabiaTADAWUL 73492367.1246.942.431.331.10
USPREFERRED 57362163.1658.331.190.141.06
MalaysiaBURSA 111100.00100.
NetherlandsAMSTERDAM 58401668.9740.001.800.850.95
Austria WIENERBORSE 1911557.8945.451.640.730.91
DenmarkCOPENHAGEN 27171062.9658.821.590.940.65
SpainIBEX 34241170.5945.831.831.290.54
SwitzerlandSIX 71462264.7947.831.200.720.48
Greece ATHENS 64166.6725.001.501.250.25
Vietnam HOSE 111100.00100.
USWARRANTS 111100.00100.
PakistanKSE 1000.
SingaporeSGX 21150.00100.
UAEUAE 1000.
ChinaSSE 1000.
ChileBCS 1000.
IndonesiaIDX 1000.
Hong KongHKEX 1000.
Vietnam HOSE 1912363.1625.000.921.08-0.17
MexicoBMV 53160.0033.330.000.67-0.67
BrazilBOVESPA 110100.
JordanASE 43175.0033.330.671.67-1.00
OmanMSM 110100.
QatarQE 64166.6725.000.001.25-1.25
UAEUAE 31033.330.000.002.00-2.00
KuwaitKSE 110100.
Patterns Total: How many of this particular pattern has been detected in this period
Confirmed Total: How many of the detected patterns were confirmed and converted into signals
Profitable Signals: The number of the confirmed patterns that have given profitable trades
Confirmation %: The percentage of the confirmed patterns with respect to the total occurrences of this pattern
Profitable Signal %: The percentage of the successful confirmed patterns with respect to the total confirmed patterns
Per Trade Profit %: Total Profits / Total Trades
Per Trade Loss %: Total Losses / Total Trades
Per Trade Net%: (Total Profits–Total Losses) / Total Number of Trades
Samples: Live sample ticker symbols from stock exchanges with links to stock pages of the related© family websites


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