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09/19/2019 Market Recap

09/19/2019 Market Recap

Postby Cobra » Thu Sep 19, 2019 4:26 pm

As explained on the chart, maybe a pullback here first then we'll see. I'm not very sure because the pattern still can be seen as a consolidation before the real breakout.
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Re: 09/19/2019 Market Recap

Postby Cobra » Thu Sep 19, 2019 4:31 pm

SUMMARY:

Drew conclusion too early, should be a range day. The next time, I won't hurry draw conclusion anymore, just for a few bars earlier entry. A real uptrend day shouldn't matter whether a few bars earlier or not.

NOTE:

I knew it's earlier but still called an uptrend day here (viewtopic.php?f=2&t=3649&p=272427#p272427).

Reminded a long setup here (viewtopic.php?f=2&t=3649&p=272445#p272445), which failed, too bad. Should have noticed at this stage at least it was not a typical uptrend day therefore should be careful.

Called range low here wrong (viewtopic.php?f=2&t=3649&p=272455#p272455).

No conclusion drawn from the close.
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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.
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