ANLIMAYARN

Published 

January 23, 2016

BEARISH THREE BLACK CROWS

This pattern indicates a strong reversal in the market. It is characterized by three normal or long candlesticks decrementing downwards. 

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.

The Three Black Crows  seen in the double tops shaded area on the ANLIMAYARN . Meanwhile the weekly chart produced a shooting star candle. However  the three candlesticks are over extended and make significant price declines, you may need to be wary of oversold conditions.