06/29/2018 Market Recap

[Cobra]

[Cobra]

SUMMARY:

To me (so you might have different view for sure) the chart gave me false bull hopes until near the end of the day, it's like bulls were trying and trying and gave up in the final hour. I really wish I could see the end but unfortunately based on all the skills I mastered so far, I simply couldn't foresee so...


NOTE:

Called up here right (viewtopic.php?f=2&t=2950&p=256399#p256399). Unfortunately the later up wasn't enough for 1x, so right call, failed trade.

I knew the resistances, just I actually didn't believe it'd work as mostly they don't, well, I mean mostly they work if I don't believe they'd work (viewtopic.php?f=2&t=2950&p=256403#p256403).

Until here (viewtopic.php?f=2&t=2950&p=256415#p256415) it looked like an uptrend day.

H3 long because the 3rd bull signal bar looked strong (viewtopic.php?f=2&t=2950&p=256422#p256422). Unfortunately it failed. And again here, it still looked like an uptrend day.

Called the rebound here right (viewtopic.php?f=2&t=2950&p=256427#p256427). It's perhaps the only way I use volume, mostly I just ignore it. Now the pullback looked like a bull flag, although a little too large for the pole, but still couldn't say the uptrend was over.

I actually meant a breakout was more likely (viewtopic.php?f=2&t=2950&p=256440#p256440), which was right, so my next guess was 2 legged up (viewtopic.php?f=2&t=2950&p=256443#p256443). At this stage it gave the hope back to bulls. Or more precisely bull made another attempt to gain the control.

At this stage (viewtopic.php?f=2&t=2950&p=256447#p256447), I still wished that maybe the "usual unpredictable last hour" would change everything.

And I finally gave up here (viewtopic.php?f=2&t=2950&p=256450#p256450), the rebound was too weak.

It was an ugly close.

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.