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03/20/2019 Market Recap

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Cobra
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03/20/2019 Market Recap

Post by Cobra »

Just look how many red bars in the past after a filled black bar.
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Cobra
Site Admin
Posts: 58337
Joined: Sat Feb 12, 2011 10:29 pm

Re: 03/20/2019 Market Recap

Post by Cobra »

SUMMARY:

FOMC day, no trade.

NOTE:

Called 100% mm here (viewtopic.php?f=2&t=3360&p=266366#p266366) which actually didn't go as I thought although eventually reached the target.

I almost believed it's a typical breakdown then sharp reversal up. Luckily I decided to wait after the mini target being reached first (viewtopic.php?f=2&t=3360&p=266371#p266371). The market failed to reach the target before it resumed down again, fulfilled the 100% mm target.

Show time nothing to say (viewtopic.php?f=2&t=3360&p=266390#p266390).

Looked really good for bulls by here but generally the FOMC day close was weak so there's a question mark at the end of "this bull shall have legs" (viewtopic.php?f=2&t=3360&p=266397#p266397).

Confirmed the weak close here (viewtopic.php?f=2&t=3360&p=266402#p266402).

The close was disappointing for bulls but not enough to draw a solid conclusion for 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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