02/04/2019 Market Recap
Posted: Mon Feb 04, 2019 5:40 pm
Closed near the high of the day so probably at least a higher high ahead. No sign of a top yet.
Spent the most of the day within the Friday's range so although it's an uptrend day, as per my experiences such trend usually is not reliable therefore I didn't trade.
NOTE:
Started very like a range day (viewtopic.php?f=2&t=3290&p=265017#p265017), so it's actually a surprise to me later it turned out to be a strong uptrend day.
Explained, before making a decisive new high, I couldn't treat it as an uptrend day. It was wrong today but it's from my experiences so no regret (viewtopic.php?f=2&t=3290&p=265023#p265023).
Confirmed uptrend day here (too late) and called the pullback right (viewtopic.php?f=2&t=3290&p=265027#p265027) because I saw the volume surge.
Called H2 long setup. It didn't go as expected, instead it made a double bottom before flying away so it's purely a lucky call (viewtopic.php?f=2&t=3290&p=265028#p265028).
The close was exceptionally strong so most likely there'll be at least higher high tomorrow.
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.