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 73357.1475.0014.500.0014.50
CanadaTSX-V 29171258.6270.599.120.598.53
PhilippinesPSE 21131061.9076.926.540.546.00
USOTC PINK 2381749573.1154.607.673.004.67
USAMEX 88664375.0065.156.081.504.58
SingaporeSGX 2012860.0066.674.500.174.33
ThailandSET 61462875.4160.875.000.724.28
PortugalLISBON 86275.0033.334.670.504.17
Poland GPW 62422867.7466.674.790.933.86
BelgiumBRUSSELS 25181172.0061.114.220.443.78
IndonesiaIDX 47342272.3464.714.681.033.65
IsraelTASE 95723775.7951.394.441.133.32
RussiaMICEX 51372572.5567.574.301.053.24
AustraliaASX 104674464.4265.673.730.553.18
South KoreaKRX 23517711075.3262.153.850.783.07
PakistanKSE 1491037069.1367.964.161.113.05
ArgentinaBUE 111100.00100.
USNASDAQ 58841724170.9257.794.601.652.96
NorwayOSE 31211367.7461.904.671.862.81
South KoreaKOSDAQ 37025716469.4663.814.041.262.78
Vietnam HNX 54280.0050.003.500.752.75
TurkeyBIST 2361618468.2252.173.911.192.73
IndiaNSE 1519108357471.3053.003.891.302.59
IndiaBSE 1862134574472.2355.323.911.342.57
EgyptEGX 40331782.5051.523.641.122.52
TaiwanGTSM 30120012866.4564.003.100.612.49
The World 103797310410470.4556.133.551.172.39
UKLSE 2541839972.0554.103.331.042.29
Hong KongHKEX 2681739164.5552.603.361.092.27
ChinaSZSE 109694063.3057.973.030.772.26
Austria WIENERBORSE 1811561.1145.452.820.642.18
MalaysiaBURSA 22151068.1866.672.600.472.13
SwedenSTOCKHOLM 104744371.1558.113.571.472.09
ArgentinaBUE 24151066.6762.503.381.312.06
BangladeshDSE 1681196670.8355.463.020.972.04
MexicoBMV 40282070.0071.432.540.542.00
IndiaNSE 111100.00100.
CanadaTSX 1661186971.0858.472.991.141.86
USNYSE 63144925571.1656.792.350.611.73
ChinaSSE 75442458.6754.552.320.661.66
USPREFERRED 47291961.7065.521.790.141.66
ItalyBORSA 1591186774.2156.782.330.821.51
TaiwanTWSE 32021611567.5053.242.440.941.50
JapanTOKYO 54838020069.3452.632.491.081.41
GermanyXETRA 2501849973.6053.802.290.921.36
BrazilBOVESPA 91552660.4447.272.331.161.16
Saudi ArabiaTADAWUL 48351972.9254.
FrancePARIS 1401006071.4360.002.891.861.03
MalaysiaBURSA 111100.00100.
SwitzerlandSIX 54361866.6750.001.190.560.64
Greece ATHENS 74157.1425.001.501.250.25
Vietnam HOSE 1610262.5020.001.301.300.00
Vietnam HOSE 111100.00100.
TurkeyBIST 1000.
SingaporeSGX 21150.00100.
UAEUAE 1000.
PakistanKSE 1000.
ChinaSSE 1000.
ChileBCS 1000.
IndonesiaIDX 1000.
Hong KongHKEX 1000.
SpainIBEX 2819967.8647.371.211.37-0.16
NetherlandsAMSTERDAM 48331168.7533.331.151.64-0.48
DenmarkCOPENHAGEN 146342.8650.001.171.67-0.50
MexicoBMV 53160.0033.330.000.67-0.67
BrazilBOVESPA 110100.
JapanNAGOYA 21050.
QatarQE 21050.
OmanMSM 110100.
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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