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07/17/2019 Market Recap

PostPosted: Wed Jul 17, 2019 4:51 pm
by Cobra
Strong bear bar so maybe the pullback isn't over yet.

Re: 07/17/2019 Market Recap

PostPosted: Wed Jul 17, 2019 5:02 pm
by Cobra
SUMMARY:

Saw possible higher low or slightly lower low trend reversal, so waited for the trading reversals setup which didn't come, the 2nd leg down lasted till the close. Well, at least follow the rule of buying the 2nd leg down only saved me from being trapped.

NOTE:

Basically called more down here (viewtopic.php?f=2&t=3549&p=270522#p270522).

Basically called downtrend day here (viewtopic.php?f=2&t=3549&p=270529#p270529).

Called the low was in but the trade need wait for the 2nd test of the day low (viewtopic.php?f=2&t=3549&p=270536#p270536).

The 2nd test of the day low simply kept falling until the close, so no long setup (I dare not short as always). Very weak close so 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.