This is correctly said, but what I had more in mind was converting new traders to using defined and named patterns as danger signals, not entry signals. Pin bar would be my No.1 choice. But I would add almost all the well known reversal and break-out signals.
Never in 4+ decades heard of Death Cross, LOL. I see small breaks in pivot highs in downtrend, volume lower but not by much from recent pivot highs, sell below recent lows/hedge correctly or don't risk more than 2%. Only way I know to change 50/50%'s is through backtesting which I believe too few believe. I learn how much to risk using MAE/MFE. And using correct hedging techniques, wished I learned in my first decade. Most folks enjoy the profits of trading first, I get off on squeezing risk amount next to nada first.
I've been in the markets less than 10 years and have seen this term many times. It's when the 50 MA crosses the 200 MA on the downside.
I wonder if the inventor of the 'Death Cross' is a millionaire, It should be illegal for anyone in the public eye to give out advice, if they are not millionaires. Or have generated a substantial amount of wealth from actually doing and succeeding.
You talking to me? If so, I have a video analogy for you... https://www.elitetrader.com/et/threads/and-they-have-a-plan-live.306838/
No, not you. I would hardly call your ET profile as being in 'the public eye'. I meant the inventor of the so-called Death Cross, and other so-called finance and stock experts and analysts who get quoted by major website outlets and news articles. Such as on CNBC, MarketWatch, CNNMoney, YahooFinance, Cboe, WSJ, amongst others. All those guys (and gals) can't basically trade, for actual money returns and success consistently. They get paid to be a Bobblehead personality to amuse the dumb, sheep, masses. Simply to produce content for ad revenue.
Nobody invents a pattern. They simply claim they "discovered" it and then define it. And then all the jeehaws clamp onto it, and go yeah, this is it! Jeehaw!
%% Sure is a death cross 50dma crashin' below 200dma. Sorry/ the.double bottom + closes above 200dma ,YTD %, Better than 52 weeks 50%price level+ closes aboVe 50 week moving average, good sales increasing ...............................................Mostly bullish, not long that one/ i have enough longs/etfs