08/16/2019 Market Recap
Posted: Fri Aug 16, 2019 4:12 pm
Now 51% chances of double bottom. The market acts like a fly without head so if huge down Monday I won't be surprised.
Called uptrend day in time, the rest of the day should be not too difficult. I didn't say it's strong uptrend so shouldn't expect up much which was indeed.
NOTE:
Called uptrend day here (viewtopic.php?f=2&t=3598&p=271530#p271530).
I mean bias is up (viewtopic.php?f=2&t=3598&p=271538#p271538).
Bold way saying told you so (viewtopic.php?f=2&t=3598&p=271547#p271547). Most breakout (up or down) fails though, remember this.
No conclusion drawn from the close.
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.