03/22/2019 Market Recap

[Cobra]

The very first red bar, it's big and with volume surge so could mean the pullback has just started, not a good sign for bulls.

[Cobra]

SUMMARY:

Downtrend day. Confirmed a little bit late although still enough for some scalp. Lots of fake breakdown so had to very careful calling downtrend day. Made the right decision for not sure whether the low was in because the initial rebound was not strong enough.

NOTE:

Called 100% mm down right (viewtopic.php?f=2&t=3364&p=266481#p266481).

Explained how I'd judge range day or downtrend day (viewtopic.php?f=2&t=3364&p=266485#p266485).

I meant it's not time to buy yet (viewtopic.php?f=2&t=3364&p=266506#p266506).

EMA20 short setup worked, just good for a scalp only though (viewtopic.php?f=2&t=3364&p=266513#p266513). Considering it's very rare for a down and down day so at least I wouldn't try to hold till the close therefore scale was the right way to go.

Was right for not sure about whether the low was in or not (viewtopic.php?f=2&t=3364&p=266518#p266518). The first pink tinted area was the initial rebound which was weak so it's not a trading reversals setup.

Ugly close, might be gap down the next Monday.

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.