05/06/2019 Market Recap

[Cobra]

I cannot believe the market doesn't care about the trade war (or just nobody believe what Trump says?), but the today's bar looks bullish so more up? See comment on the chart for why the bar today is bullish.

[Cobra]

SUMMARY:

Found hard to believe it's an uptrend day so confirmed the bears were over after the 2nd leg broke the morning high, even so still decent gains thereafter. The market is so bullish, cannot believe it, anyway I have no intention to argue with the market.

NOTE:

If it's a gap down then strong uptrend day, it should break the EMA20 decisively and this is why I said here's the bear's last chance (viewtopic.php?f=2&t=3437&p=268242#p268242).

It took awhile before bulls finally made a breakout. By here (viewtopic.php?f=2&t=3437&p=268259#p268259) finally it's clear bears were over.

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.