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 84350.0075.0014.501.2513.25
CanadaTSX-V 30171260.0066.678.610.947.67
PhilippinesPSE 22141063.6471.435.790.645.14
USOTC PINK 27219911173.1655.787.512.804.70
USAMEX 98694470.4163.775.841.204.64
ThailandSET 64472873.4459.575.000.834.17
PortugalLISBON 86275.0033.334.670.504.17
Poland GPW 65453069.2366.675.020.894.13
SingaporeSGX 2113961.9069.
BelgiumBRUSSELS 25181172.0061.114.220.443.78
RussiaMICEX 60422770.0064.294.500.933.57
IndonesiaIDX 52382573.0865.794.450.973.47
NorwayOSE 35241568.5762.505.001.633.38
PakistanKSE 1571077368.1568.224.451.123.33
South KoreaKRX 25519312175.6962.693.770.753.02
ArgentinaBUE 111100.00100.
AustraliaASX 113734964.6067.123.840.882.96
IndiaBSE 1943141480072.7756.584.251.302.95
South KoreaKOSDAQ 38726916969.5162.834.101.252.85
TurkeyBIST 2481708968.5552.353.991.162.83
IndiaNSE 1579114061672.2653.994.041.262.77
Vietnam HNX 54280.0050.003.500.752.75
USNASDAQ 64645525770.7456.244.341.652.68
Austria WIENERBORSE 2012660.0050.003.250.582.67
Hong KongHKEX 2841859865.1452.973.711.072.64
ChinaSSE 89543060.6755.563.310.702.61
IsraelTASE 97743976.2952.703.721.112.61
TaiwanGTSM 31820813265.4163.463.250.642.60
EgyptEGX 42351783.3348.573.601.112.49
The World 110917815439870.5156.243.631.152.48
ChinaSZSE 139925866.1963.043.270.832.45
UKLSE 27519810772.0054.
CanadaTSX 1801257469.4459.
SwedenSTOCKHOLM 114804770.1858.753.581.452.13
ArgentinaBUE 24151066.6762.503.381.312.06
IndiaNSE 111100.00100.
BangladeshDSE 1801276970.5654.332.920.941.98
MalaysiaBURSA 23161069.5762.502.630.751.88
MexicoBMV 42302071.4366.672.370.631.73
USNYSE 69648626569.8354.532.280.641.65
USPREFERRED 52332263.4666.671.670.151.52
ItalyBORSA 1751297173.7155.042.260.771.50
TaiwanTWSE 34122912267.1653.282.380.941.44
JapanTOKYO 58040421169.6652.232.481.111.37
FrancePARIS 1521086571.0560.193.061.731.33
GermanyXETRA 27020110574.4452.242.190.951.24
BrazilBOVESPA 110642958.1845.312.251.091.16
Saudi ArabiaTADAWUL 48351972.9254.
MalaysiaBURSA 111100.00100.
SwitzerlandSIX 57381966.6750.001.160.580.58
DenmarkCOPENHAGEN 157446.6757.141.861.430.43
Greece ATHENS 85262.5040.001.401.000.40
Vietnam HOSE 111100.00100.
SingaporeSGX 21150.00100.
TurkeyBIST 1000.
UAEUAE 1000.
PakistanKSE 1000.
IndonesiaIDX 1000.
ChinaSSE 1000.
ChileBCS 1000.
Hong KongHKEX 1000.
SpainIBEX 3019963.3347.371.211.37-0.16
Vietnam HOSE 159160.0011.111.331.56-0.22
NetherlandsAMSTERDAM 54391472.2235.901.081.44-0.36
MexicoBMV 53160.0033.330.000.67-0.67
JapanNAGOYA 21050.
BrazilBOVESPA 110100.
OmanMSM 110100.
QatarQE 32066.670.000.001.50-1.50
KuwaitKSE 110100.
UAEUAE 32066.670.000.002.00-2.00
JordanASE 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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