Trying to learn a new TA pattern. Is this a death cross on LYFT? Also, what else bearish indicators do we see here? Possibly a rising wedge?
Be cautious of TA patterns. It's rather foolish to assume that's a gold mine, golden ticket, to riches and success. Just because JFK was assassinated there...just because Titanic sank there....just because 9-11 happened on 2001....just because a Virus incident happened in 2020, That doesn't mean that's a safe bet...more similar incidents will happen on or around those anniversaries, You have to expand your eyes, mind and horizons of understanding. Death Cross...who invents those stupid names, Most likely some so-called stock analysts or newspaper columnists who can't trade for stuff...but only talks about the past, Hindsight, while trying to sound like an expert.
Friday's daily bar was a DarkCloud candle but most recent trend is sideways so I'd be cautious going long or short without other confirmation either direction. Like, for instance, what the overall market does, after last week's move down.
"...Here is an example of a death cross on the S&P 500 in December of 2018:..." Anyone here remember what happened right around end of Dec 2018? The death-cross immediately reversed in the new year after the Trump Bump, and bears got f'ed in the ass.
The chart looks rather messy. No amount of crosses will help you analyze it. Just remove those MA lines as it wouldn't improve your success rate. Go look for other trendy charts, and not golden cross or death cross or blessed sacred cross
Another one of those gems, everybody who sold the IPO is golden. Everybody else is a potential bag holder.
probably both...... but will that make you money? patterns are no more than 60% correct so need very good trade and risk management to get out with a few $$$$$$$$$$$$
I suggest OP to buy a couple of good book on pattern recognition and don't rely on comments on this thread from people that clearly don't have the slightest idea of what pattern recognition is. The first to bring some sort of education in the West about pattern recognition, have been Nison although since He worked in Japan that is some of the Japanese knowledge. The most interesting research on this specific trading technique come from the Chinese which They used this technique since beginning of 9th century in the rise market. Sadly most of the material worth reading is still in Chinese language and has not been translated. Or I am not aware of any translation. It's really a wide technique from those chartist which extensively use volume and other things for pattern confirmation.