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10/19/2018 Market Recap

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Cobra
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10/19/2018 Market Recap

Post by Cobra »

Still up or down from here, 50 to 50.
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Cobra
Site Admin
Posts: 58337
Joined: Sat Feb 12, 2011 10:29 pm

Re: 10/19/2018 Market Recap

Post by Cobra »

SUMMARY:

Attempted to call uptrend day but the condition wasn't met, attempted to call reversal (up) but the condition was never clearly met. So seemed a messy day of calling the direction but actually a good demonstration of how I judge the trend changes.


NOTE:

Explained how I decide whether it's an uptrend day here (viewtopic.php?f=2&t=3129&p=260213#p260213) and here (viewtopic.php?f=2&t=3129&p=260215#p260215).

Bulls failed to make a good bull bar as I requested so it's a range day therefore the plan was to wait for the range low (viewtopic.php?f=2&t=3129&p=260217#p260217).

Basically illustrated trading reversals setup here (viewtopic.php?f=2&t=3129&p=260224#p260224).

By here the trading reversals setup still is valid (viewtopic.php?f=2&t=3129&p=260229#p260229), so couldn't say bulls were over.

The lower low trend reversal called earlier by here still was possible and it also could be a higher low trend reversal now (viewtopic.php?f=2&t=3129&p=260241#p260241).

By here the trend might be reversed, for today only of course (viewtopic.php?f=2&t=3129&p=260250#p260250). It's a nested lower low trend reversal then higher low trend reversal. No times for bulls though so no way to prove whether the reversal was right or wrong.

No conclusion drawn from the close.
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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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