11/16/2018 Market Recap

[Cobra]

Multiple resistances here, key time. I have no idea up or down from here, Thanksgiving week Wednesday and Friday are very bull friendly though so as long as the market can hold until Wednesday...

[Cobra]

SUMMARY:

Typical range day with 3 up legs and 2 down legs, gladly I didn't trade, otherwise would be confused.

NOTE:

By here it looked like uptrend day had chances (viewtopic.php?f=2&t=3173&p=261483#p261483).

Too bad the uptrend day wasn't confirmed so by here I knew it's a range day for bulls at the best therefore no longer interested in the market anymore (viewtopic.php?f=2&t=3173&p=261497#p261497). I mean, hey, it's Friday!

Some news kicked in (viewtopic.php?f=2&t=3173&p=261522#p261522), but unfortunately the breakout wasn't decisive enough so still was a range day (viewtopic.php?f=2&t=3173&p=261527#p261527).

I actually meant if the pullback could exceed the mini target then bulls were doomed as it meant the pullback strength was still strong therefore bears might have legs (viewtopic.php?f=2&t=3173&p=261535#p261535).

Called possible pullback over here (viewtopic.php?f=2&t=3173&p=261550#p261550). Well a little earlier. Honestly I didn't expect a 3rd push up, as the mini pullback target was exceeded earlier, I thought bulls were doomed. Well, bulls were resilient, not bad, but it also proved the theory that in a range day, we shouldn't trust any mores.

It did have a pullback before the close, but the pullback wasn't strong therefore didn't tell anything about the coming 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.

[daytradingES]

Thanks for the recap!:-)
AS you say -hey it's Friday.