Does the Bearish Engulfing work on Pepe?

On Pepe's daily chart, after a bearish engulfing Pepe fell within 7 days 71% of the time across 52 past cases. On an ordinary day it did so 55% of the time.

Slightly better, not conclusiveA little better than the baseline, but within what luck could produce across this many tests.
On PepeWeak edge
71% of 52 casesbaseline 55%
All coinsNo edge
55% of 15,763 casesbaseline 54%
Median move after the pattern +6.86% vs +1.73% from any bar; after a 0.2% round trip of fees +6.66%.

Daily chart

WithinPepeOrdinary barCasesAll coinsVerdict
24 hours54% (43%–65%)51%7250% vs 51%No edge
30 days55% (38%–72%)56%2957% vs 58%Too few
7 days71% (58%–82%)55%5255% vs 54%Weak edge

4-hour chart

WithinPepeOrdinary barCasesAll coinsVerdict
24 hours46% (41%–51%)50%36948% vs 50%No edge
7 days53% (44%–61%)55%13351% 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 Pepe 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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