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09/20/2019 Market Recap

09/20/2019 Market Recap

Postby Cobra » Fri Sep 20, 2019 4:13 pm

Say, 51% chances of double top here.
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Re: 09/20/2019 Market Recap

Postby Cobra » Fri Sep 20, 2019 4:20 pm

SUMMARY:

Once appeared a range day turned into a downtrend day. Didn't see the sharp pullback coming but gladly I didn't buy the double bottom that for awhile looked very good.

NOTE:

Called range day here (viewtopic.php?f=2&t=3651&p=272482#p272482).

Called the range low here (viewtopic.php?f=2&t=3651&p=272512#p272512).

Almost called double bottom here, fortunately I decided to wait a few more bars. Just a pure luck.
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I didn't foresee the sharp sell off coming.

Called the low in here (viewtopic.php?f=2&t=3651&p=272546#p272546). It didn't go as I expected thereafter although indeed the low was in, I consider it's a bad call.

Weak close, so gap down Monday?
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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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