03/12/2019 Market Recap

[Cobra]

Key day tomorrow, narrow range bar or worse would mean bulls are not out of the woods yet.

[Cobra]

SUMMARY:

Range day. The ascending triangle looked beautiful, too bad, it was just a false breakout, which always happens so no complain, otherwise trading would be too easy.

NOTE:

Explained how I'd judge trend day or range day here (viewtopic.php?f=2&t=3346&p=266071#p266071).

Clearly a range day here (viewtopic.php?f=2&t=3346&p=266072#p266072).

I was having lunch in another room, then I saw this nice looking ascending triangle so I ran to my desk, posted this (viewtopic.php?f=2&t=3346&p=266082#p266082). I mean it was really very good looking, worth pausing the lunch which I usually don't like to do. Well, too bad, turned out it was just a false breakout.

No conclusion drawn from the close.

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.