Does the Bullish Engulfing work on Cardano?

On Cardano's daily chart, after a bullish engulfing Cardano rose within 7 days 45% of the time across 125 past cases. On an ordinary day it did so 47% of the time.

No edge: a coin flipIndistinguishable from an ordinary day on this coin. Most patterns land here.
On CardanoNo edge
45% of 125 casesbaseline 47%
All coinsNo edge
45% of 14,571 casesbaseline 46%
Median move after the pattern -1.01% vs -0.70% from any bar; after a 0.2% round trip of fees -1.21%.

Daily chart

WithinCardanoOrdinary barCasesAll coinsVerdict
24 hours48% (41%–56%)49%16648% vs 48%No edge
30 days43% (31%–55%)45%6143% vs 42%No edge
7 days45% (36%–54%)47%12545% vs 46%No edge

4-hour chart

WithinCardanoOrdinary barCasesAll coinsVerdict
24 hours48% (44%–51%)49%66348% vs 49%No edge
7 days48% (42%–54%)48%25548% vs 48%No edge

1-hour chart

WithinCardanoOrdinary barCasesAll coinsVerdict
24 hours49% (46%–52%)48%86149% vs 50%No edge
4 hours48% (46%–51%)49%177648% vs 50%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 Cardano 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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