🌟🌟🌟I like to use the Golden Cross and Death Cross in my technical analysis. These chart patterns involve the crossover of 2 major moving averages typically the 50 day SMA and the 200 day SMA.
I use the Golden Cross and Death Cross to confirm major shifts in market momentum and trend direction.
The Golden Cross is a Bullish Buy Signal which occurs when a shorter term moving average (the 50 day SMA) crosses above a longer term moving average (the 200 day SMA).
In contrast a Death Cross is the inverse pattern where the shorter term moving average (the 50 day SMA) crosses below the longer term moving average (the 200 day SMA).
A Death Cross is a Bearish Sell signal which indicates the short term momentum is rapidly deteriorating and selling pressure is taking hold.
Both the Golden Cross and Death Cross are powerful confirmations of trend shifts helping me make the right decisions in market momentum.
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