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 1/1/2017
Stock Exchange 
Per Trade 
Total Net% Descending
CanadaCSE 84250.0050.009.751.758.00
Greece ATHENS 119381.8233.337.111.895.22
USOTC PINK 38428516175.7855.337.112.344.76
CanadaTSX-V 36261372.2250.006.542.124.42
ThailandSET 93683973.1257.355.290.884.41
IndonesiaIDX 82593871.9564.414.750.953.80
NorwayOSE 62422367.7454.765.641.863.79
CanadaTSX 30421513770.7263.724.500.813.69
PortugalLISBON 1513786.6753.854.000.463.54
Poland GPW 102694067.6557.974.641.123.52
IndiaBSE 27692011117172.6358.234.841.373.47
Hong KongHKEX 48032218067.2955.734.451.013.44
IndiaNSE 2258161092271.3057.274.541.233.31
PakistanKSE 22215710370.7265.614.331.113.22
Austria WIENERBORSE 44271561.3655.564.040.813.22
RussiaMICEX 69432862.3265.123.860.653.21
AustraliaASX 1881217364.3660.334.501.323.18
South KoreaKOSDAQ 66145227068.6859.474.501.363.13
TurkeyBIST 40728316069.5356.544.010.993.02
ArgentinaBUE 111100.00100.
South KoreaKRX 43132619375.6459.203.920.952.97
BelgiumBRUSSELS 46342273.9164.713.410.622.79
The World 1736912153685670.0356.363.931.212.71
MalaysiaBURSA 38251765.7968.003.320.642.68
TaiwanGTSM 45629918665.5762.213.590.932.66
DenmarkCOPENHAGEN 45261457.7853.853.961.352.62
ChinaSSE 148965364.8655.213.651.052.59
USNASDAQ 107276841671.6454.174.331.742.59
SwedenSTOCKHOLM 2131448667.6159.723.951.532.42
JapanNAGOYA 53260.0066.672.670.332.33
IsraelTASE 1461055671.9253.333.411.092.32
UKLSE 51935619168.7953.503.341.042.31
BrazilBOVESPA 1841236366.8551.223.491.232.26
ChinaSZSE 2401638667.9252.763.451.212.24
BangladeshDSE 2291658972.4953.613.281.082.20
Vietnam HOSE 2516564.0031.253.060.882.19
USAMEX 142975668.3157.733.601.432.16
EgyptEGX 60502483.3348.
Vietnam HNX 64266.6750.002.750.752.00
PortugalLISBON 111100.00100.
FrancePARIS 111100.00100.
Greece ATHENS 111100.00100.
ChileBCS 111100.00100.
SpainIBEX 111100.00100.
GermanyXETRA 111100.00100.
BelgiumBRUSSELS 111100.00100.
Austria WIENERBORSE 111100.00100.
NetherlandsAMSTERDAM 111100.00100.
ItalyBORSA 111100.00100.
IndiaNSE 111100.00100.
ItalyBORSA 31823913375.1655.652.740.851.90
SingaporeSGX 30221073.3345.452.640.771.86
USNYSE 109174740868.4754.622.690.851.83
TaiwanTWSE 56037720267.3253.582.720.931.79
NetherlandsAMSTERDAM 90672874.4441.793.631.851.78
FrancePARIS 26018310470.3856.833.381.811.57
MexicoBMV 61392163.9353.852.280.741.54
JapanTOKYO 105869035365.2251.162.711.171.54
UAEUAE 42150.0050.002.501.001.50
PhilippinesPSE 32221368.7559.093.271.861.41
GermanyXETRA 46534717974.6251.592.481.181.30
SpainIBEX 56361764.2947.222.751.581.17
Saudi ArabiaTADAWUL 90563062.2253.572.301.201.11
BangladeshDSE 21150.00100.
ArgentinaBUE 35241468.5758.332.291.291.00
MalaysiaBURSA 111100.00100.
USPREFERRED 94603763.8361.671.480.600.88
SwitzerlandSIX 91583163.7453.451.600.950.66
UAEUAE 2000.
NorwayOSE 1000.
PhilippinesPSE 111100.00100.
PakistanKSE 1000.
MexicoBMV 105350.0060.000.400.400.00
IndonesiaIDX 1000.
Hong KongHKEX 1000.
ChinaSSE 1000.
ChileBCS 1000.
SwedenSTOCKHOLM 21150.00100.
SingaporeSGX 21150.00100.
UKLSE 1000.
TurkeyBIST 1000.
Vietnam HOSE 111100.00100.
JordanASE 43175.0033.330.671.67-1.00
OmanMSM 110100.
BrazilBOVESPA 110100.
QatarQE 96266.6733.330.001.17-1.17
KuwaitKSE 21050.
JapanFUKUOKA 110100.
USWARRANTS 21050.000.000.0018.00-18.00
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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