Back to www.cobrasmarketview.com

09/18/2018 Market Recap

Post Reply
User avatar
Cobra
Site Admin
Posts: 58333
Joined: Sat Feb 12, 2011 10:29 pm

09/18/2018 Market Recap

Post by Cobra »

Still 50% chances double top. A good bull follow through tomorrow would invalidate the double top. Let's see.
spy.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
Posts: 58333
Joined: Sat Feb 12, 2011 10:29 pm

Re: 09/18/2018 Market Recap

Post by Cobra »

SUMMARY:

Unexpected uptrend day, glad didn't admit it too late. Disappointing close though.


NOTE:

The market provided a very good chance to know whether the day was uptrend day or range day here (viewtopic.php?f=2&t=3072&p=259039#p259039). I actually thought of uptrend day much earlier, just because it was not what I expected so I needed much longer time to finally admit what I expected was wrong.

By here it should be very clear that it was an uptrend day (viewtopic.php?f=2&t=3072&p=259042#p259042). Once the trend is clear, it's never too late to act because one has only one chance to catch exactly at the end of the trend but has many other chances to catch in any middle of the trend.

Called pullback here right. The "may still have leg" part was half right because bulls did try but they failed (viewtopic.php?f=2&t=3072&p=259056#p259056).

In the end it was a disappointing close. So maybe no good follow through for bulls tomorrow?
1.png
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.

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
Post Reply