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02/05/2019 Market Recap

02/05/2019 Market Recap

Postby Cobra » Tue Feb 05, 2019 5:06 pm

No sign of a top, so at least half up day tomorrow before a pullback can be possible.
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Re: 02/05/2019 Market Recap

Postby Cobra » Tue Feb 05, 2019 5:12 pm

SUMMARY:

Classic range day, easily bought at the day high and sold at the day low and this is why knowing range day or trend day is very important.

NOTE:

By here it looked a lot like an uptrend day so could be easily tricked buying here (viewtopic.php?f=2&t=3292&p=265045#p265045). Experienced traders would wait for a couple of bar then the true nature of the day would be revealed.

By here it's clear that it is a range day (viewtopic.php?f=2&t=3292&p=265050#p265050).

I actually knew when I posted this, it's exactly the low of the day (viewtopic.php?f=2&t=3292&p=265062#p265062) and this is why I said it's easily sold near the day low. It's just a magic, works every time. Don't know why.

Back to very clearly a range day here (viewtopic.php?f=2&t=3292&p=265065#p265065).

No conclusion drawn from the close.
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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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