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07/16/2019 Market Recap

07/16/2019 Market Recap

Postby Cobra » Tue Jul 16, 2019 4:22 pm

Maybe one more day of pullback? Because the most pullbacks after a filled black recently lasted more than one day.
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Re: 07/16/2019 Market Recap

Postby Cobra » Tue Jul 16, 2019 4:33 pm

SUMMARY:

The 12 pm drop had several reversal like bars which kept me waiting, the rebound later hard to tell strong or weak which kept me waiting again, then the 2nd leg down was a typical revisit of the previous low so my focus was then a trading reversal setup therefore only commented when I saw possible higher low.

NOTE:

Called range day here (viewtopic.php?f=2&t=3547&p=270477#p270477).

Called more down here (viewtopic.php?f=2&t=3547&p=270487#p270487).

I didn't know how to respond to the sharp pullback then sharp reversal until here which looked like the low was in or very close (viewtopic.php?f=2&t=3547&p=270502#p270502).

A little lower than I called higher low earlier then strong rebound so called the low was in again here (viewtopic.php?f=2&t=3547&p=270508#p270508).

Weak close so might be gap down 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.

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