Deliberation Crows / 同事三羽烏
Reference values based on Bulkowski's "Encyclopedia of Chart Patterns". Data is primarily from U.S. markets and may differ for other markets.
A bearish pattern consisting of three consecutive bearish candles where the second and third candles open at approximately the same level as the previous close. A variant of Three Black Crows, the absence of gaps with opens matching prior closes indicates persistent selling pressure. When appearing at the top of an uptrend, it suggests a reversal into a downtrend.
Enter short at the next candle's open after the third bearish candle confirms. It is important to verify the characteristic that opens match previous closes.
Project the combined range of the three bearish candles downward from the third candle's close. Or target the nearest support line.
Place a stop-loss slightly above the first bearish candle's open (high). A tighter stop at the second candle's open is also possible.
Ideally, volume is stable or increasing across the three candles. Opens matching previous closes suggest accumulation of overnight sell orders.