07/25/2018 Market Recap

[Cobra]

Follow through wanted, one day big up doesn't mean anything.

[Cobra]

SUMMARY:

Called range low and later breakout right, the rest of the day was then easy.


NOTE:

I actually was very tempted to call uptrend day here, gladly, I waited a little longer otherwise the stop loss would be triggered because the pullback thereafter made a new day low.

Called the range low here (viewtopic.php?f=2&t=2988&p=257345#p257345).

Thought a breakout was more likely here (viewtopic.php?f=2&t=2988&p=257350#p257350) and confirmed here (viewtopic.php?f=2&t=2988&p=257355#p257355).

Vol surge plus biggest bull bar after being up for awhile usually means exhaustion, so called pullback here (viewtopic.php?f=2&t=2988&p=257366#p257366). It went another bar instead which was strong enough to earn "this bull shall have legs", so reiterated pullback here and added "the pullback likely would be bought" which meant no hurry to book profit now (viewtopic.php?f=2&t=2988&p=257368#p257368).

I didn't see this coming (viewtopic.php?f=2&t=2988&p=257373#p257373) and this is why it's essential to book partial profits only otherwise we'd have missed the rally.

In the end, a happy close.

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.

[daytradingES]

Well Done Cobra!!

[Cobra]

Well Done Cobra!!

Thank you.