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04/20/2018 Market Recatp

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Cobra
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04/20/2018 Market Recatp

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Cobra
Site Admin
Posts: 58337
Joined: Sat Feb 12, 2011 10:29 pm

Re: 04/20/2018 Market Recatp

Post by Cobra »

The day trade today.

Missed the morning short (viewtopic.php?f=2&t=2838&p=252809#p252809) which was a very first rebound after a sharp down so usually should be a sell.

So waited for the trading reversals setup.

As per the setup, skipped the very first rebound (viewtopic.php?f=2&t=2838&p=252818#p252818), waiting for the 2nd rebound.

At this stage the 2nd rebound still is valid for the trading reversals setup: viewtopic.php?f=2&t=2838&p=252835#p252835

The close simply proved I was right that even it broke the previous low a lot, the trading reversals setup could still be valid. The rebound near the close didn't look like a reversal as it's weak but still it's good for a scalp. The trading reversals setup name might be misleading, it just mean it's relatively safer to buy the 2nd rebound attempt, it does not mean real reversal which may be or may be not. Well, I don't like to trade near the close which is very unpredictable so in the end I didn't do anything today anyway...
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