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07/05/2019 Market Recap

07/05/2019 Market Recap

Postby Cobra » Fri Jul 05, 2019 4:50 pm

Will the "no rate reduction soon" dramatically affect the market, we'll have to wait and see. For now the chart still simply is "this bull shall have legs".
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Re: 07/05/2019 Market Recap

Postby Cobra » Fri Jul 05, 2019 4:56 pm

SUMMARY:

It's late when uptrend day was finally confirmed so I decided to wait for the pullback before considering buying which didn't come until near the close.

NOTE:

Explained here how I'd judge trend day or range day (viewtopic.php?f=2&t=3531&p=270209#p270209).

By here it's clearly at the best for bears were range day. Couldn't call uptrend day yet because the day high needed to be taken decisively and this was why I said too late to chase high so I decided to wait for the pullback (viewtopic.php?f=2&t=3531&p=270215#p270215).

Called more up here, too bad the pullback was too shallow for me to buy (viewtopic.php?f=2&t=3531&p=270218#p270218).

Strong close, so gap up the next 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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