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11/13/2018 Market Recap
11/13/2018 Market Recap
Still no volume surge so the low might not be in yet.
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Re: 11/13/2018 Market Recap
SUMMARY:
It was right not to trust the breakout. However it's also difficult to see where the pullback target would be so no trade and no bother to comment either.
NOTE:
At this stage the direction wasn't clear (viewtopic.php?f=2&t=3167&p=261258#p261258). I was bear biased but it also could be double bottom so gladly I didn't say it's a falling wedge.
The breakout in the past would enough to trick me into buying, so to me, I finally made a progress today by not trusting the breakout (viewtopic.php?f=2&t=3167&p=261269#p261269).
It's just a reminder here as it's a potential change point (viewtopic.php?f=2&t=3167&p=261278#p261278). Well, no trend changes here.
No conclusion drawn from the close.
DISCLAIMER:
The trading log above is meant for myself only which main purpose is to help improving my market sense.
It was right not to trust the breakout. However it's also difficult to see where the pullback target would be so no trade and no bother to comment either.
NOTE:
At this stage the direction wasn't clear (viewtopic.php?f=2&t=3167&p=261258#p261258). I was bear biased but it also could be double bottom so gladly I didn't say it's a falling wedge.
The breakout in the past would enough to trick me into buying, so to me, I finally made a progress today by not trusting the breakout (viewtopic.php?f=2&t=3167&p=261269#p261269).
It's just a reminder here as it's a potential change point (viewtopic.php?f=2&t=3167&p=261278#p261278). Well, no trend changes here.
No conclusion drawn from the close.
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.
Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.