Does the Bearish Engulfing work on Aave?

On Aave's daily chart, after a bearish engulfing Aave fell within 7 days 45% of the time across 100 past cases. On an ordinary day it did so 50% of the time.

No edge: a coin flipIndistinguishable from an ordinary day on this coin. Most patterns land here.
On AaveNo edge
45% of 100 casesbaseline 50%
All coinsNo edge
55% of 15,763 casesbaseline 54%
Median move after the pattern -2.77% vs -0.05% from any bar; after a 0.2% round trip of fees -2.97%.

Daily chart

WithinAaveOrdinary barCasesAll coinsVerdict
24 hours47% (39%–56%)50%12950% vs 51%No edge
30 days49% (36%–63%)53%4957% vs 58%No edge
7 days45% (36%–55%)50%10055% vs 54%No edge

4-hour chart

WithinAaveOrdinary barCasesAll coinsVerdict
24 hours48% (44%–52%)50%60548% vs 50%No edge
7 days51% (45%–58%)49%22551% vs 51%No edge

How this is measured: each occurrence is counted from the bar where the pattern became knowable, overlapping cases are dropped, and the result is compared with how often Aave moved the same way from any random bar over the same window. A pattern only earns "beat the baseline" when the difference is larger than luck explains across all the tests we run. Full method.

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