11/20/2018 Market Recap

[Cobra]

[Cobra]

SUMMARY:

It looked like a reversal day for once (The turnaround Tuesday also added the fuel), so I was tricked, but eventually it turned out to be just a range day.


NOTE:

Here was where I decided whether it's a trend day or range day (viewtopic.php?f=2&t=3178&p=261710#p261710).

I decided it's a range day but somehow this strong push up got me excited, as it's also the turnaround Tuesday so I actually thought the low was in here (viewtopic.php?f=2&t=3178&p=261728#p261728).

I didn't totally give up here yet but the instinct told me bulls were over (viewtopic.php?f=2&t=3178&p=261742#p261742), because a typical reversal day shouldn't be like this - the strength should be very obvious.

It's just a subtle way to admit it's a range day, my early excitement was wrong (viewtopic.php?f=2&t=3178&p=261758#p261758).

In the end it's a range day but if the time was enough probably breakdown would be more likely.

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.