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10/02/2018 Market Recap
10/02/2018 Market Recap
Rebound still appears weak.
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Re: 10/02/2018 Market Recap
SUMMARY:
Called double bottom right (as usual), double top wrong (as usual), breakout wrong (should be rare, so no regret, will do it again the next time).
NOTE:
The context was very good here the low was in if not it's a double bottom (viewtopic.php?f=2&t=3101&p=259373#p259373). I was confident. Although it took awhile before the real breakout.
I consider the call here right (viewtopic.php?f=2&t=3101&p=259381#p259381). The 2nd leg up just failed to make a new high, instead it made a failed double top.
Double top usually doesn't work, the call here was really just a reminder. I don't trade double top (viewtopic.php?f=2&t=3101&p=259385#p259385).
By here it looked like an ascending triangle so I called up (viewtopic.php?f=2&t=3101&p=259392#p259392) with confidence.
Too bad it was wrong. I kept silent during the entire pullback process instead of saying this bear shall have legs simply because the pullback was in a range so could fail anytime. The rebound before the close didn't tell me anything useful, so no comments.
DISCLAIMER:
The trading log above is meant for myself only which main purpose is to help improving my market sense.
Called double bottom right (as usual), double top wrong (as usual), breakout wrong (should be rare, so no regret, will do it again the next time).
NOTE:
The context was very good here the low was in if not it's a double bottom (viewtopic.php?f=2&t=3101&p=259373#p259373). I was confident. Although it took awhile before the real breakout.
I consider the call here right (viewtopic.php?f=2&t=3101&p=259381#p259381). The 2nd leg up just failed to make a new high, instead it made a failed double top.
Double top usually doesn't work, the call here was really just a reminder. I don't trade double top (viewtopic.php?f=2&t=3101&p=259385#p259385).
By here it looked like an ascending triangle so I called up (viewtopic.php?f=2&t=3101&p=259392#p259392) with confidence.
Too bad it was wrong. I kept silent during the entire pullback process instead of saying this bear shall have legs simply because the pullback was in a range so could fail anytime. The rebound before the close didn't tell me anything useful, so no comments.
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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StockCharts members, please vote for me HERE, thanks.