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06/12/2018 Market Recap

06/12/2018 Market Recap

Postby Cobra » Tue Jun 12, 2018 5:20 pm

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Re: 06/12/2018 Market Recap

Postby Cobra » Tue Jun 12, 2018 5:33 pm

DISCLAIMER:

The trading log below 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.


SUMMARY:

No idea about the direction until noon. Guessed range high right, the Internet was down so missed range low. The good news is I finally know that my backup Internet connection works. I drilled the backup connection several times in the past but guess because it's just a drill so I didn't notice a problem until today after 1 hour of troubleshooting. Anyway, the backup connection works, that's a good news, it's not a waste of money I pay every month for the backup.


NOTE:

At this stage (viewtopic.php?f=2&t=2921&p=255581#p255581), I knew it's going to test yesterday's high which is an important resistance so didn't think it'd pass through so the range high was known.

Called a rebound here (viewtopic.php?f=2&t=2921&p=255586#p255586) which just was a consolidation therefore should be more down but unfortunately my internet was down at this point and according to the ISP, it needs 24 hours to be repaired.

The close was strong.
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