SUMMARY:
The day mostly was in the last day's range so hard to call downtrend day until broke down late when it was meaningless to call downtrend day anymore. Good part was I knew it's looking for range low and later I knew it'd likely break on the downside.
NOTE:
I thought it'd be range day because so far it's moving within the last day's range so hard to tell where was the range low (
viewtopic.php?f=2&t=3224&p=263312#p263312) and hard to tell whether the sharp pullback was just a vacuum down. My guess was at the yesterday's low though.
Called break down likely right (
viewtopic.php?f=2&t=3224&p=263327#p263327). By here it should be clear, it's not a range day, it's a downtrend day.
Reiterated down more likely here right (
viewtopic.php?f=2&t=3224&p=263335#p263335).
A little panic after the breakdown, however bears seemed confident this time so not much covering at the close. As for bad sign or good sign, it depends on whether you're half empty or half full person.
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.