Back to www.cobrasmarketview.com

   

03/25/2020 Market Recap

03/25/2020 Market Recap

Postby Cobra » Wed Mar 25, 2020 4:27 pm

Finally bulls are able to make 2 consecutive days which is the very first good sign toward a solid bottom. There're still long ways to go. The bar today has both upper and lower shadows so doesn't tell much the direction next. Generally the rebound should fail somewhere eventually but I'm not prepared for it to fail right here yet.So hopefully...
Attachments
spy.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 46394
Joined: Sat Feb 12, 2011 10:29 pm

Re: 03/25/2020 Market Recap

Postby Cobra » Wed Mar 25, 2020 4:41 pm

SUMMARY:

Applied the lesson learnt recently: If the trend day is confirmed very late, treat it as a range day. The sharp down before the close was unexpected but since I didn't treat it as an uptrend day, I was fine.

NOTE:

N/A - explained how I'd judge downtrend day or range day here (viewtopic.php?f=2&t=3935&p=280411#p280411).

Right for the low was in which was all that mattered - called range low here (viewtopic.php?f=2&t=3935&p=280418#p280418).

Right - called more up here (viewtopic.php?f=2&t=3935&p=280422#p280422).

Right - called the pullback would be bought here (viewtopic.php?f=2&t=3935&p=280434#p280434). I should have mentioned as in the past that when EMA is touched the trend usually is near the end, today was classic.

No conclusion drawn from the close.
1.png


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.

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 46394
Joined: Sat Feb 12, 2011 10:29 pm

Re: 03/25/2020 Market Recap

Postby JFR » Wed Mar 25, 2020 6:59 pm

ES 5. Getting squeezed.
Attachments
2020-03-25_1557.png
User avatar
JFR
 
Posts: 4395
Joined: Sun Dec 02, 2012 7:24 pm


Return to Traders Lounge

Who is online

Users browsing this forum: Google [Bot], ysc and 44 guests