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09/27/2018 Market Recap

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Cobra
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09/27/2018 Market Recap

Post by Cobra »

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Cobra
Site Admin
Posts: 58337
Joined: Sat Feb 12, 2011 10:29 pm

Re: 09/27/2018 Market Recap

Post by Cobra »

SUMMARY:

It was a rare half day uptrend then reversed down day. For now, I had no way to foresee the ^ reversal like today so will have to live with it relying on the assumption that this kind of day is very rare.


NOTE:

Recognized uptrend day here (viewtopic.php?f=2&t=3093&p=259265#p259265).

It was good for half day.

Until here (viewtopic.php?f=2&t=3093&p=259271#p259271), it still looked like bulls were not over so that I could sell at higher price.

Too bad it was wrong. No sizeable rebound at all.

Honestly by here (viewtopic.php?f=2&t=3093&p=259272#p259272), it still looked bulls were not without hope. It was a widest red bar with long lower shadow and volume surge, so it's an exhaustion bar therefore rebound should be very likely.

Too bad the rebound was weak. The market simply kept falling and falling and to make things worse, I dare not say this bear shall have legs because I saw way too many times the market just suddenly turns up...

In the end, it's a rare ^ reversal day. No complain. Otherwise making money would be too easy, everyone would be rich.
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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.

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