09/14/2018 Market Recap

[Cobra]

Still, double top or not, wait and see. I say pullback from here first.

[Cobra]

See what happened after all the recent filled black bars.

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[Cobra]

SUMMARY:

Simply another range day.


NOTE:

Called range top here (viewtopic.php?f=2&t=3067&p=258976#p258976). Accordingly, I finally decided to use QQQ as the secondary index to watch for day trading. I wasn't sure RSP or QQQ before.

Called the pullback target here right (viewtopic.php?f=2&t=3067&p=258980#p258980).

Called the usual pattern here, half right (viewtopic.php?f=2&t=3067&p=258983#p258983). Simply just don't trust any bear moves.

Sharp rebound indeed but it also meant hard to call the rest of the day (viewtopic.php?f=2&t=3067&p=258985#p258985).

I don't know why the market simply refused to have a pullback. Let's see Monday, should be red or no later than Tuesday. Reason was posted upstairs.

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.