02/14/2019 Market Recap

[Cobra]

The pullback might not over yet.

[Cobra]

SUMMARY:

Surprisingly very strong 2nd leg up but it moved into the yesterday's range so I was skeptic about the further up room which turned out right.

Now when I'm writing the recap, reading the chart again, I realized that the 2nd leg up was a typical higher low trend reversal so should not be a surprise. The surprise was because my mind was preoccupied on the downside therefore was unable to see the higher low trend reversal.

NOTE:

By here it's clear that unlikely it'd be a downtrend day (viewtopic.php?f=2&t=3308&p=265383#p265383). However it still could be an uptrend day, this was why I said "the best for bears".

As explained in the summary, because my mind was preoccupied so I missed the strong 2nd leg up. When I realized the miss, it's already in the yesterday's range which means lots of resistances so I'd not bet for the 3rd leg up which turned out to be a not bad decision (viewtopic.php?f=2&t=3308&p=265396#p265396).

Sell off before the close could mean another 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.