02/13/2019 Market Recap

[Cobra]

Filled black bar (open high close lower although still an up day), so expect a day or two pullback as early as tomorrow.

[Cobra]

SUMMARY:

Range day. I didn't foresee it could rebound all the way to near the close then sharp down so no trade in a range day actually is not a bad idea. Also after the double top breakdown (tinted area) it kissed the neckline goodbye but got reversed testing the day low (double bottom), this part also needed some guesses as the down was sharp but the reversal up was slow initially which could easily make people believe the pullback wasn't over yet and this was why I didn't foresee it could go all the way up till near the close.

NOTE:

Explained how I'd judge range day or trend day (viewtopic.php?f=2&t=3306&p=265333#p265333).

For a moment it looked like a trend day but unfortunately (or fortunately) bulls couldn't make a breakout thus made calling range day much easier (viewtopic.php?f=2&t=3306&p=265336#p265336).

Weak close so maybe gap down tomorrow?

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.