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 1/1/2016
Stock Exchange 
Per Trade 
Total Net% Descending
CanadaCSE 51120.00100.0019.000.0019.00
IndonesiaIDX 90614367.7870.496.690.676.02
RussiaMICEX 81543366.6761.115.200.784.43
USOTC PINK 39529716375.4454.706.932.514.42
PortugalLISBON 1412585.7141.675.000.584.42
Poland GPW 98654366.3366.154.910.654.26
ThailandSET 122834668.0355.425.140.924.23
CanadaTSX-V 40281570.0053.576.182.004.18
JapanNAGOYA 32266.67100.
Hong KongHKEX 52335120567.1158.404.890.903.99
IsraelTASE 1431076174.8357.
TurkeyBIST 40127315668.0857.143.980.893.09
USNASDAQ 108274742269.0456.494.431.423.01
ArgentinaBUE 111100.00100.
SingaporeSGX 32201262.5060.003.350.402.95
South KoreaKOSDAQ 74251131268.8761.064.391.452.94
IndiaBSE 31222243127971.8457.024.281.442.84
ChinaSSE 1621055964.8156.193.941.102.84
TaiwanGTSM 46730319264.8863.373.670.862.81
PhilippinesPSE 35261774.2965.383.851.082.77
IndiaNSE 2376169695271.3856.134.101.362.74
CanadaTSX 33322813568.4759.213.690.962.73
South KoreaKRX 50136322872.4662.813.670.952.72
NorwayOSE 65442367.6952.274.862.162.70
ChinaSZSE 2601729866.1556.983.641.022.62
USAMEX 1431005569.9355.003.941.352.59
BangladeshDSE 25719110774.3256.023.581.012.58
SwedenSTOCKHOLM 1761277972.1662.203.861.282.57
PakistanKSE 24017411272.5064.373.641.122.52
BelgiumBRUSSELS 43332176.7463.643.210.732.48
The World 1851112971732270.0856.443.641.162.47
ArgentinaBUE 29221475.8663.643.731.362.36
Greece ATHENS 129575.0055.562.890.672.22
Vietnam HOSE 2315465.2226.673.201.002.20
Austria WIENERBORSE 34221164.7150.002.820.682.14
UKLSE 51336219970.5754.973.040.962.08
ItalyBORSA 111100.00100.
NetherlandsAMSTERDAM 111100.00100.
PortugalLISBON 111100.00100.
SpainIBEX 111100.00100.
GermanyXETRA 111100.00100.
IndiaNSE 111100.00100.
FrancePARIS 111100.00100.
Greece ATHENS 111100.00100.
BelgiumBRUSSELS 111100.00100.
Austria WIENERBORSE 111100.00100.
AustraliaASX 1771176866.1058.122.991.041.95
EgyptEGX 55442080.0045.453.181.251.93
ItalyBORSA 34424214370.3559.092.500.641.86
BrazilBOVESPA 1851235766.4946.342.931.101.83
MalaysiaBURSA 45311968.8961.292.390.581.81
FrancePARIS 27718310366.0656.283.261.501.77
USNYSE 122385646369.9954.092.310.621.69
JordanASE 43275.0066.672.671.001.67
TaiwanTWSE 59140321368.1952.852.550.911.64
UAEUAE 52140.0050.002.501.001.50
Saudi ArabiaTADAWUL 120784565.0057.692.501.041.46
GermanyXETRA 47535519774.7455.492.250.901.35
MexicoBMV 64452670.3157.781.910.731.18
JapanTOKYO 105970634666.6749.012.421.281.14
MalaysiaBURSA 111100.00100.
SpainIBEX 56422175.0050.
USPREFERRED 89553261.8058.
SwitzerlandSIX 104703567.3150.001.170.560.61
NetherlandsAMSTERDAM 100713071.0042.251.441.210.23
DenmarkCOPENHAGEN 48301362.5043.331.371.170.20
TurkeyBIST 1000.
SingaporeSGX 21150.00100.
Vietnam HOSE 111100.00100.
UAEUAE 1000.
IndonesiaIDX 1000.
PakistanKSE 1000.
BangladeshDSE 1000.
Hong KongHKEX 1000.
ChinaSSE 1000.
ChileBCS 1000.
QatarQE 86275.0033.331.001.17-0.17
Vietnam HNX 662100.0033.331.502.00-0.50
MexicoBMV 53160.0033.330.000.67-0.67
BrazilBOVESPA 110100.
OmanMSM 110100.
KuwaitKSE 110100.
JapanFUKUOKA 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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