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02/19/2019 Market Recap

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Cobra
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02/19/2019 Market Recap

Post by Cobra »

The blue line above should be the magnet.
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Cobra
Site Admin
Posts: 58334
Joined: Sat Feb 12, 2011 10:29 pm

Re: 02/19/2019 Market Recap

Post by Cobra »

SUMMARY:

When the uptrend day became clear it was a little late. However, buy dip still worked, typically around ema20. The close was disappointing but it doesn't look ugly on the daily chart so guess no big deal YET.

NOTE:

Explained how I'd judge uptrend day or range day here (viewtopic.php?f=2&t=3313&p=265472#p265472). At this stage I didn't expect an uptrend day.

A sudden big bull bar so by here it was clear it's an uptrend day but might be too late for the entry and this was why I said "at least this bull shall have legs" (viewtopic.php?f=2&t=3313&p=265478#p265478) which I meant buy dip might work.

Called breakout right (viewtopic.php?f=2&t=3313&p=265486#p265486).

No so lucky this time calling small bull leg up so eventually I made nothing (viewtopic.php?f=2&t=3313&p=265487#p265487).

Didn't expect the close to be this ugly (and this was why I made nothing) which could imply a gap down tomorrow.
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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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