09/21/2018 Market Recap

[Cobra]

It was exhaustion so expect further pullbacks from here.

[Cobra]

SUMMARY:

It's actually a down trend day but the breakdown happened near the close and before which it looked like a range day therefore didn't bother to comment.


NOTE:

Explained how I would judge trend day or range day here (viewtopic.php?f=2&t=3084&p=259135#p259135). It actually went up, made the day look like a range day then went down slowly so even knew it's downtrend day, it'd be difficult to trade, I mean as per my style - I'd like keep it simple, simply buy/sell and hold.

Breakdown finally, but unfortunately it's not a short here because usually if not always, there'd be sharp rebound first (viewtopic.php?f=2&t=3084&p=259142#p259142).

The short would be difficult to hold because it's slow until the last 5 minutes.

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.