Does the Bullish Engulfing work on Pepe?

On Pepe's daily chart, after a bullish engulfing Pepe rose within 7 days 48% of the time across 56 past cases. On an ordinary day it did so 43% of the time.

No edge: a coin flipIndistinguishable from an ordinary day on this coin. Most patterns land here.
On PepeNo edge
48% of 56 casesbaseline 43%
All coinsNo edge
45% of 14,571 casesbaseline 46%
Median move after the pattern -0.76% vs -1.73% from any bar; after a 0.2% round trip of fees -0.96%.

Daily chart

WithinPepeOrdinary barCasesAll coinsVerdict
24 hours44% (33%–55%)46%7148% vs 48%No edge
30 days41% (25%–59%)44%2743% vs 42%Too few
7 days48% (36%–61%)43%5645% vs 46%No edge

4-hour chart

WithinPepeOrdinary barCasesAll coinsVerdict
24 hours47% (42%–53%)46%34348% vs 49%No edge
7 days42% (34%–51%)43%13148% vs 48%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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