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01/15/2019 Market Recap

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Cobra
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01/15/2019 Market Recap

Post by Cobra »

Maybe target Fib 61.8 and Fib 50 confluence area, then we'll see.
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Cobra
Site Admin
Posts: 58333
Joined: Sat Feb 12, 2011 10:29 pm

Re: 01/15/2019 Market Recap

Post by Cobra »

SUMMARY:

Started very much like a strong uptrend day but lacked some typical signs so I kept wondering what kind of day it was. The push up around noon finally made me believe it might be an uptrend day but then it made a lower high trend reversal down and just when I thought bulls were over, it turned all the way back up. It's a difficult trading day. Gladly since I didn't recognize the uptrend day in the morning therefore I did no trade, otherwise I'd be crying here...

NOTE:

Called ascending triangle real breakout here right (viewtopic.php?f=2&t=3259&p=264166#p264166).

By here I wanted to kill myself for not recognizing the uptrend day first thing in the morning (viewtopic.php?f=2&t=3259&p=264193#p264193).

Well, the day didn't go that easy thereafter as explained here (viewtopic.php?f=2&t=3259&p=264228#p264228) so now I'm happy for doing nothing instead of wanting to kill myself.

No conclusion drawn from the close. It was not bad but happened to stop right at the day high so 50% chances it's making a double top which we can only know tomorrow therefore hard to draw conclusion.
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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.

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