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05/20/2019 Market Recap

05/20/2019 Market Recap

Postby Cobra » Mon May 20, 2019 4:28 pm

51% chances the pullback was over.
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Re: 05/20/2019 Market Recap

Postby Cobra » Mon May 20, 2019 4:38 pm

SUMMARY:

Gap down but the initial rebound was strong so almost gave up on bears. However gradually bears were able to push all the way down to the morning low, so bears were not as weak as before, need to be vigilant now.

NOTE:

Called the bear's last chances here (viewtopic.php?f=2&t=3459&p=268767#p268767). Personally, I already gave up on bears here.

By here (viewtopic.php?f=2&t=3459&p=268775#p268775) the chart still looked in favor of bulls and this was why I said I wouldn't count on bears.

Surprisingly bears were able to push all the way down to the morning low again, basically called possible double bottom here (viewtopic.php?f=2&t=3459&p=268789#p268789).

Looked the low was in here (viewtopic.php?f=2&t=3459&p=268795#p268795).

No conclusion drawn from the close.
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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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