Death Cross

[maxinger]

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.

Most books are written by professional writers.

You should provide useful information,
be specific and recommend the good books to the OP.

 

[Bastion_01]

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?
View attachment 267787

I'm seeing a "trend line break" to the upside. Does it mean anything useful? Probably not.

 

[padutrader]

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.

i agree
but Bulkowski clearly has shown through his research that patterns are 60% successful AT THE MOST : Bulkowski's Blog (thepatternsite.com)

from my vast personal experience of patterns they are quite deadly to your health.

but you can investigate for your self

 

[padutrader]

What else do you need to know?

how and when to enter, how to exit, how to manage risk, how to manage your capital, how to manage the trade......does that answer your question?

 

[maxinger]

i agree
but Bulkowski clearly has shown through his research that patterns are 60% successful AT THE MOST : Bulkowski's Blog (thepatternsite.com)

from my vast personal experience of patterns they are quite deadly to your health.

but you can investigate for your self

good points mister.
many people follow the trading book like the holy bible.


the number 60% probably includes only trendy charts.
I doubt this very important point is not stated anywhere in the book.

If you include all the charts in this world including messy untrendy choppy charts like LYFT,
the number might drop to say 10%.

 

[Bastion_01]

if it helps any, here's the latest fair value estimate, at $63, derived with consensus forward earnings, from Morningstar.

 

[SunTrader]

.... 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..

So then how do you know it is the most interesting?

 

[Arnie]

Trying to learn a new TA pattern.
View attachment 267787

That's a sure way to the poor house. Don't over complicate it. A stock is either trending, up or down, or it's basing/doing nothing. All the rest of "TA" is bullshit.

 

[padutrader]

That's a sure way to the poor house. Don't over complicate it. A stock is either trending, up or down, or it's basing/doing nothing. All the rest of "TA" is bullshit.

that is undiluted wisdom

also it is either breaking out strongly or weakly...if weak look for a consolidation/reversal; if strong some more continuation.

it does this all day long......if you understand this it is just $$$$$$$$$$$$$

trading is amazingly simple......unless you get washed out by the tsunami of bull shit that is otherwise called TA.

eliiot wave ....fib, order flow, patterns , Demark.....so much bull

 

[countryBoy641]

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 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 ..

If you are going to lecture about patterns, I suggest you base it on facts.
The securities industry started "under the buttonwood tree" .. at Wall and Broad.
At that time, and even today,
the U.S. was unique in championing private property rights,
on which the concepts of securities (stocks AND bonds) were founded.
It did not happen in some other country.
It happened in the U.S.

In that regard, the first books include
TA by Edwards and Magee
Wyckoff Method
Ralph Elliot (Wave) published posthumously by Robert Prechter.

Rule Number One of Trading: It won't work if you are confused.