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07/17/2018 Market Recap

07/17/2018 Market Recap

Postby Cobra » Tue Jul 17, 2018 4:41 pm

It's a valid Cup with Handle breakout. The text book target is in the Galaxy far far away which need some imaginations to really believe. The next obvious resistance is the all time high (horizontal blue line above).
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Re: 07/17/2018 Market Recap

Postby Cobra » Tue Jul 17, 2018 4:47 pm

SUMMARY:

Called uptrend day right, the rest of the day was then easy.


NOTE:

Called the uptrend day here (viewtopic.php?f=2&t=2975&p=256965#p256965).

It's a diplomatic way of saying to book some profits here (viewtopic.php?f=2&t=2975&p=257014#p257014)

I really didn't believe it's H&S Top (viewtopic.php?f=2&t=2975&p=257017#p257017).

In the end, it's right not to trust H&S top. More often than not it's simply a bull flag.
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DISCLAIMER:

The trading log above is meant for myself only which main purpose is to help improving my market sense.

    My blah blah about how the market would go in the next dozens of minutes everyday in this forum, is a way to force me to focus on the market, because by speaking loud, if the prediction is wrong, I'd be embarrassed, which of course I'd like to avoid as much as possible.
    Day trading is not my strongest point. Just for the same pattern, it can repeat frequently on the 5 min chart while on daily chart it may take months to appear once and another month to know whether the idea of trading such a pattern is right or wrong THIS time, so practicing on the 5 min chart is a fastest way to learn to trade.
    Day trading inevitably would have good days and bad days, it's a part of the game. If I always have good days, it means I'm either lying or already the richest person in the world (then why I'm still trading?), so please don't blame me for making any bad calls. The log is for myself only, not meant to be followed.

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