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01/24/2020 Market Recap

01/24/2020 Market Recap

Postby Cobra » Fri Jan 24, 2020 5:48 pm

See comment on the chart below. One day doesn't make a trend so not yet, but personally I guess the media will try the best to scare everybody so maybe finally it's bear's time. Let's see.
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Re: 01/24/2020 Market Recap

Postby Cobra » Fri Jan 24, 2020 5:57 pm

SUMMARY:

I sensed a possible down and down day but since it'd be mostly within the yesterday's range so I treated it as a range day therefore didn't short. Called rebound right as again a down from open to close day has been very rare, mostly the day ends with a sharp rebound before the close.

NOTE:

Right but no trading value for me - sensed a possible down and down day but according to my rule, I treated it as a range day (viewtopic.php?f=2&t=3841&p=276933#p276933).

Right but it's not a with trend call so useless - called the rebound target. At this stage I still didn't believe big down (viewtopic.php?f=2&t=3841&p=276957#p276957).

Right - basically called this bear shall have legs here, it's just too late so I felt embarrassed to call bear here (viewtopic.php?f=2&t=3841&p=276970#p276970).

Right - called rebound then another leg down here (viewtopic.php?f=2&t=3841&p=276978#p276978).

Right - basically saying the rebound wasn't over yet, wait (viewtopic.php?f=2&t=3841&p=276982#p276982).

Right - subtle saying told you there'd be another leg down but the higher low call was good (viewtopic.php?f=2&t=3841&p=276987#p276987).

No conclusion drawn from the close.
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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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