SUMMARY:
Called downtrend day a little late but still better than wrong. Again wait for the revisit helped saving bulls.
NOTE:
2 legged pullback which already meant weak bull so better no more down leg therefore it's bull's last chance here (
viewtopic.php?f=2&t=3143&p=260620#p260620).
Bulls did try but now it's time to always give bears more credit (
viewtopic.php?f=2&t=3143&p=260623#p260623).
The 3rd leg down was more than the previous 2 legs, so by here I totally gave up hopes on bulls (
viewtopic.php?f=2&t=3143&p=260629#p260629).
Bulls tried again, so far looked good but the rule required a revisit (
viewtopic.php?f=2&t=3143&p=260638#p260638).
The rebound was weak so hard to say it was still the part of the revisit or the revisit was already over so I wasn't sure whether the low was in or not (
viewtopic.php?f=2&t=3143&p=260645#p260645).
It turned out the seemingly rebound was actually part of the revisit and then down and down till the close. The sharp rebound before the close was very hard to tell, it felt good for bulls, but if I remember correctly, likely it was just a rebound, nothing more. Anyway, let's see tomorrow.
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.