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05/07/2019 Market Recap

PostPosted: Tue May 07, 2019 4:39 pm
by Cobra
The chart still looks the pullback was over although personally I find again hard to believe as the 25% tariff is almost a sure thing now and a rally from here would mean that the market welcomes the tariff, but wait, wasn't the rally since the Dec 2018 was mainly about the news that the trade talk went well? Anyway, no argue, the chart looks to me the pullback was over.

Re: 05/07/2019 Market Recap

PostPosted: Tue May 07, 2019 4:43 pm
by Cobra
SUMMARY:

Typical downtrend day with late day reversal up, should not hard to hold the short.

NOTE:

I actually believed it'd be a downtrend day here (viewtopic.php?f=2&t=3439&p=268294#p268294). The comment was just to leave a exit to my face in case it's wrong.

Basically said I saw no bottom yet and what the first step was to be a bottom (viewtopic.php?f=2&t=3439&p=268332#p268332).

Close was strong so maybe a gap up 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.