Three Black Crows Pattern | Meaning | Candlestick | Trade | Uptrend | Downtrend | Strategy & more: Hello..how are you?
Well, today in this article. I am going to talk about one of the most famous candlestick patterns i.e Three Black Crows candlestick Pattern
Three Black Crows candlestick is one of the easiest and profitable patterns. You can make a lot of quick bucks out of this pattern.
So, keep reading ahead Three Black Crows Pattern | Meaning | Candlestick | Trade | Uptrend | Downtrend | Strategy & more 9
What is Three Black Crows?
Three black crows are the three candlestick patterns used by traders to predict the reversal of an uptrend.
The Three black crows patterns consist of three consecutive long-bodied candlesticks that have opened within the real body of the previous candle and closed lower than the previous candle.
This candlestick pattern is a visual pattern, meaning that there is no pattern calculation in the formula involved.
The Three black crows appear when the bears overtake the bulls during the three consecutive trading seasons.
You can make a lot of bucks from the three black crowns If you combine this pattern with support and resistance.
How do the Three Black Crows works?
Here, to illustrate the three black crows I am going to use Binomo.
In case you don’t have a Binomo account. click here.
You can sign up via the form given below.
Once you click the link above you will land on the Binomo homepage.
Click on Try it.
Now, fill in your details like email, password & hit create an account.
Once you signed up you will land on the Binomo dashboard.
Firstly, click on the chart button and select candlestick from the menu.
That’s it!!! The basic setup is over.
Now, what you need to do is firstly, find a strong uptrend. as the three black crows work best after a strong uptrend.
Secondly, find a three bearish candle just like a staircase shape.
How to Trade with Three Black Crows?
Trading with Three Black Crows is very easy and you can earn easy bucks with the three black crows patterns.
However, If you want to gain better results. I will highly suggest you use RSI for trade confirmation.
To set up RSI. Firstly, click on the indicator button.
Secondly, set RSI with the given below settings.
That’s it!! The basic setup is over.
Now, what you just need to remember is. If we see the three black crows near the overbought level in RSI then we should go for a SELL trade.
Let’s check few examples.
Given above is a 1 – hour chart and as we can see that the three black crows are near the overbought level so, here we can take a Sell Trade.
Similarly, Given above is a 1 – hour chart and as we can see that the three black crows are near the overbought level so, here we can take a Sell Trade.
Three Black Crows are the three candlestick patterns used by traders to find the potential reversal of a bullish trend.
Spotting this candlestick pattern is very easy, What you need to do is firstly, find a strong uptrend.
Secondly, find the three red candlesticks in staircase shape.
Once you have spotted three black crows you can place a Sell trade.
However, If you want to gain better results you should use RSI for trade confirmation.
So, Trading with Three black crows is so, easy. and this is the end of this article.
I hope you have found this article helpful.
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