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09/18/2019 Market Recap

09/18/2019 Market Recap

Postby Cobra » Wed Sep 18, 2019 4:14 pm

Breakout should be more likely now.
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Re: 09/18/2019 Market Recap

Postby Cobra » Wed Sep 18, 2019 4:31 pm

SUMMARY:

FOMC day, not trade. I tried to break the silence on a range day by guessing the range lows and highs, didn't work well, which reminded me again why I'd better not to comment in a range day.

NOTE:

Called range day and most importantly range high here (viewtopic.php?f=2&t=3647&p=272371#p272371).

Called range low here (viewtopic.php?f=2&t=3647&p=272378#p272378) which wasn't right, a little rebound though which means I may have some market sense not good enough though.

I actually meant to remind that roller coaster show would in 5 minutes (viewtopic.php?f=2&t=3647&p=272386#p272386).

Guessed the pullback was over here (viewtopic.php?f=2&t=3647&p=272403#p272403), wasn't sure though because normally should be another leg down before a bottom can be possible.

I didn't see this sharp up, I actually meant "really hard to call" (viewtopic.php?f=2&t=3647&p=272407#p272407).

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.

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Re: 09/18/2019 Market Recap

Postby Cobra » Wed Sep 18, 2019 4:36 pm

IWM, the range high has been tested many times already so a breakout should be more likely. Bears be careful: https://stockcharts.com/public/1684859/ ... /533449480

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Re: 09/18/2019 Market Recap

Postby Cobra » Wed Sep 18, 2019 4:37 pm

Oil, as I said, just in a range, it was a typical vacuum up now probably vacuum down: https://stockcharts.com/public/1684859/ ... /533449375

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