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07/18/2019 Market Recap

PostPosted: Thu Jul 18, 2019 4:10 pm
by Cobra
Good looking bullish reversal bar so maybe the pullback was over.

Re: 07/18/2019 Market Recap

PostPosted: Thu Jul 18, 2019 4:16 pm
by Cobra
SUMMARY:

Never ever trust bears.

NOTE:

Basically called resistance here (viewtopic.php?f=2&t=3551&p=270582#p270582).

Was tricked by bear here, totally forgot this was the 2nd test of the day low (I saw the 2nd test but the breakout was decisive enough so I didn't believe it'd be a lower low trend reversal, too bad) and at least downtrend day wasn't confirmed yet (viewtopic.php?f=2&t=3551&p=270582#p270582).

Called resistance here (viewtopic.php?f=2&t=3551&p=270589#p270589) which didn't work.

Basically called this bull shall have legs here (viewtopic.php?f=2&t=3551&p=270597#p270597).

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.