11/02/2018 Market Recap

[Cobra]

Not a good looking bar but bear follow through needed, too early to say the rebound was over.

[Cobra]

SUMMARY:

Calling trend day while within the last day's range didn't play well recently so I hesitated to call the downtrend day therefore missed the morning short. The later big bull bar looked really good but had no follow through so didn't long either.


NOTE:

By here a downtrend day (usually with later day reversal) looked very likely. I just had bad memory recently when the day was in the previous day's range so I didn't say anything. Well, bad decision.

By here (viewtopic.php?f=2&t=3151&p=260848#p260848), it's clear the rebound would be sold but simply because it's within the previous day's range so every last day's swing low could be a support therefore I still dare not say that it's a downtrend day.

It's just a reminder here (viewtopic.php?f=2&t=3151&p=260876#p260876).

Just a reminder of the usual reversal pattern (viewtopic.php?f=2&t=3151&p=260890#p260890).

I put my mouse on the buy button here if only it could have a follow through or at least break above the bar high (viewtopic.php?f=2&t=3151&p=260892#p260892). It never happened, nor with any decent bull bar thereafter so I didn't long.

The closes looked like a triangle which is a continuation pattern, so gap up the next Monday?

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.