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06/07/2019 Market Recap

06/07/2019 Market Recap

Postby Cobra » Fri Jun 07, 2019 4:12 pm

Probably still some up rooms.
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Re: 06/07/2019 Market Recap

Postby Cobra » Fri Jun 07, 2019 4:18 pm

SUMMARY:

When I was sure it's an uptrend day, buy and hold till the close would make no money. A rare uptrend day that needs book profit in the middle of the day.

NOTE:

Called uptrend day here (viewtopic.php?f=2&t=3487&p=269350#p269350).

Reminded the 2nd chance to buy today here (viewtopic.php?f=2&t=3487&p=269355#p269355) and here (viewtopic.php?f=2&t=3487&p=269361#p269361). However, by my 2nd reminder, it should be clear it's not a strong uptrend day as a strong uptrend day would only touch the EMA20 late in the afternoon. It's too early today.

Called possible lower high trend reversal here (viewtopic.php?f=2&t=3487&p=269375#p269375). Not exactly right as it didn't make a breakdown but not too bad.

The close was weak, maybe gap down Monday?
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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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