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08/20/2019 Market Recap

08/20/2019 Market Recap

Postby Cobra » Tue Aug 20, 2019 4:44 pm

Maybe further pullback tomorrow?
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Re: 08/20/2019 Market Recap

Postby Cobra » Tue Aug 20, 2019 4:50 pm

SUMMARY:

Range day, pull back from the range high, waited for the rebound from the range low which didn't come so didn't do anything and not many comments as well.

NOTE:

Called range day here (viewtopic.php?f=2&t=3603&p=271612#p271612). The pullback later was indeed bought, just it was a lower high therefore was sold later. It's actually a lower high trend reversal, a short setup.

I waited for the range low then for the rebound setup but so far it looked like rebound was unlikely (viewtopic.php?f=2&t=3603&p=271635#p271635).

Bold way saying told you so here (viewtopic.php?f=2&t=3603&p=271637#p271637).

Weak close so maybe 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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