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09/23/2019 Market Recap

09/23/2019 Market Recap

Postby Cobra » Mon Sep 23, 2019 4:16 pm

It can go either up or down here. Personally I think the chart favors a breakout on the upside simply because it's 3 days already, bears didn't go far.
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Re: 09/23/2019 Market Recap

Postby Cobra » Mon Sep 23, 2019 4:42 pm

SUMMARY:

Range day, failed to see the range low.

NOTE:

Called range low here (viewtopic.php?f=2&t=3654&p=272577#p272577). Triple bottom is rare and this was why I said maybe there's still a new day low. It's all about odds, so no complain I didn't see the low was already in here.

Called more up here but didn't expect up much (viewtopic.php?f=2&t=3654&p=272588#p272588).

The pullback indeed was bought, actually twice. It's hard to call whether the 2nd time it'd be bought and didn't see the sharp sell off before the close so I kept quiet.

Weak close, so maybe gap down tomorrow morning?
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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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