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07/25/2019 Market Recap

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Cobra
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07/25/2019 Market Recap

Post by Cobra »

Still C&H pattern is not broken so bias is up.
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Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 07/25/2019 Market Recap

Post by Cobra »

SUMMARY:

Didn't expect a larger 2nd leg down and didn't get the trading reversals setup until very late so did nothing. I didn't say much as both the 10 am to 11 am and 1 pm to 2 pm rebound were very hard to tell whether the low was in or not.

NOTE:

Called a range day here (viewtopic.php?f=2&t=3563&p=270766#p270766).

Didn't expect the 2nd leg down to make a decisive new low. Called the pullback target here (viewtopic.php?f=2&t=3563&p=270776#p270776).

The rebound after hitting the bear target was hard to tell (whether the low was in or not) so I kept quiet. And finally a possible higher low was spotted here (viewtopic.php?f=2&t=3563&p=270795#p270795), but it was too late for me to long.

Not a bad close for bulls but not strong enough to draw conclusion for 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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