12/06/2018 Market Recap

[Cobra]

[Cobra]

Honestly, the market surprised me with a huge drop Tuesday.

So yesterday, I finally knew what really happened (for the huge drop). I consider the Huawei event a declaration of a total trade war and a slap directly on Xi's face which traditional Chinese cares very very much, the face, therefore is very very deadly.

And today the market surprised me again with a reversal on volume surge. I really thought the end of the world was near.

So I don't understand this market. Does the market expect a release on bail tomorrow? Which is the only way I think that could turn the deadly event into something acceptable by both US and China. Or the market has no idea at all what Chinese would think?

[Cobra]

SUMMARY:

Correctly called the low was in, although till now I still found hard to believe (that the Huawei event was nothing).

NOTE:

Consolidation therefore down was more likely. Correct call (viewtopic.php?f=2&t=3200&p=262475#p262475).

I was ready for the end of the world here (viewtopic.php?f=2&t=3200&p=262490#p262490). Really, I bet people outside the China had no idea what Chinese would think about the event which was very very deadly. If the world ends simply because of some culture misunderstandings, that really really is a tragic of human kind.

So by here, I still believed it was just a rebound (viewtopic.php?f=2&t=3200&p=262519#p262519), since I believed the end of the world was near.

The rebound was exceptionally strong so by here I finally realized that the low might be in (viewtopic.php?f=2&t=3200&p=262526#p262526).

I was very optimistic here (viewtopic.php?f=2&t=3200&p=262552#p262552).

Well, not so simple (viewtopic.php?f=2&t=3200&p=262556#p262556).

It was finally clear here that bulls were going to win (viewtopic.php?f=2&t=3200&p=262564#p262564).

In the end, a very good close for bulls although I found hard to understand as I thought the event was very very deadly. Well, let's see. If the event turned out to be nothing that US can arrest anyone without any consequences and at a very critical time when the biggest guys of the strongest 2 countries met and agreed a truce, it just explained why I'm just a common nobody known idiot who has no idea at all about politics or perhaps anything.

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.

[BullBear52x]

https://www.youtube.com/watch?v=6ny05L3YNmY