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05/23/2019 Market Recap

05/23/2019 Market Recap

Postby Cobra » Thu May 23, 2019 4:27 pm

Double bottom or not, wait and see. 50% chances.
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Re: 05/23/2019 Market Recap

Postby Cobra » Thu May 23, 2019 4:33 pm

SUMMARY:

Very late to know it's a downtrend day (usually with later day reversal up), so only good for a ema short setup which I didn't point out because I was busy in something else. The setup was only good for a scalp anyway as I definitely didn't see the sudden shoot up before the close.

NOTE:

By here I knew it'd be a downtrend day (viewtopic.php?f=2&t=3465&p=268909#p268909). It's just too late so the only option left was the ema short setup (this bear shall have legs).

I sure didn't see this coming (viewtopic.php?f=2&t=3465&p=268922#p268922). Gladly I didn't take the ema short setup.

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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