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 1/1/2020
Stock Exchange 
Per Trade 
Total Net% Descending
PakistanKSE 43375.00100.
ArgentinaBUE 111100.00100.
PortugalLISBON 111100.00100.
NetherlandsAMSTERDAM 111100.00100.
IndiaNSE 111100.00100.
FrancePARIS 111100.00100.
SpainIBEX 111100.00100.
ItalyBORSA 111100.00100.
Greece ATHENS 111100.00100.
GermanyXETRA 111100.00100.
BelgiumBRUSSELS 111100.00100.
Austria WIENERBORSE 111100.00100.
BangladeshDSE 31133.33100.
UAEUAE 31133.33100.
MalaysiaBURSA 111100.00100.
Poland GPW 111100.00100.
JapanTOKYO 221100.0050.000.500.000.50
ChileBCS 52240.00100.000.500.000.50
EgyptEGX 1403371.433.000.350.000.35
The World 233061529569.220.590.030.010.02
TaiwanTWSE 6591165.
IndiaNSE 31182171.
TaiwanGTSM 1000.
TurkeyBIST 4790066.600.
TurkeyBIST 1000.
ThailandSET 1260064.
ThailandSET 1000.
SingaporeSGX 270074.
SingaporeSGX 21150.00100.
SwedenSTOCKHOLM 2940068.
SwedenSTOCKHOLM 32266.67100.
RussiaMICEX 1000.
PortugalLISBON 700100.
PakistanKSE 2140071.500.
Poland GPW 1370068.610.
Vietnam HOSE 570047.370.
Vietnam HNX 70085.710.
Vietnam HOSE 111100.00100.
USWARRANTS 260061.540.
USPREFERRED 1040062.500.
USOTC PINK 4970070.620.
USNYSE 13050061.530.
USNASDAQ 12820071.370.
UKLSE 7860069.720.
UKLSE 1000.
TaiwanGTSM 5120063.870.
SwitzerlandSIX 1320070.450.
SwitzerlandSIX 1000.
CanadaTSX 4030071.
CanadaCSE 260080.770.
CanadaTSX-V 540068.520.
BrazilBOVESPA 43175.0033.330.670.670.00
BrazilBOVESPA 3080069.810.
Austria WIENERBORSE 750064.
ArgentinaBUE 620067.740.
BelgiumBRUSSELS 410078.
IsraelTASE 1740070.
IsraelTASE 1000.
IndonesiaIDX 1230075.610.
IndonesiaIDX 1000.
Hong KongHKEX 4500070.440.
Hong KongHKEX 1000.
DenmarkCOPENHAGEN 480062.500.
GermanyXETRA 6970072.600.
ChinaSZSE 6610068.380.
ChinaSSE 5030066.
ChinaSSE 1000.
NorwayOSE 1490067.
NorwayOSE 1000.
PhilippinesPSE 320068.750.
PhilippinesPSE 111100.00100.
NetherlandsAMSTERDAM 1020074.510.
MalaysiaBURSA 650063.
MexicoBMV 840060.710.
MexicoBMV 116454.5566.670.330.330.00
UAEUAE 80062.500.
Saudi ArabiaTADAWUL 1220059.840.
QatarQE 110072.730.
KuwaitKSE 170047.
JapanNAGOYA 40025.
JordanASE 200100.
South KoreaKOSDAQ 5930067.620.
South KoreaKRX 5070071.
South KoreaKOSDAQ 111100.00100.
JapanTOKYO 10150063.740.
ItalyBORSA 4470072.
ChileBCS 180072.
BangladeshDSE 3100076.450.
SpainIBEX 780069.
Greece ATHENS 230073.910.
FrancePARIS 3480071.550.
IndiaBSE 35872172.790.
USAMEX 2001062.500.000.000.01-0.01
RussiaMICEX 2141062.
AustraliaASX 2901063.450.000.000.02-0.02
JapanFUKUOKA 410100.
OmanMSM 110100.
DenmarkCOPENHAGEN 110100.
AustraliaASX 220100.
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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