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10/03/2019 Market Recap

10/03/2019 Market Recap

Postby Cobra » Thu Oct 03, 2019 4:15 pm

Good looking Hammer so maybe the rebound wasn't over yet.
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Re: 10/03/2019 Market Recap

Postby Cobra » Thu Oct 03, 2019 4:24 pm

SUMMARY:

Called the low was in based on my experiences which so far seemed right but I meant THE low for the entire pullback was in so too early to tell now. Anyway, it was a good call. And easy to call more up thereafter.

NOTE:

If I had good imagination I'd say "the best for bears is a range day", too bad, I only called range day here which wasn't right at it turned out to be an uptrend day later (viewtopic.php?f=2&t=3671&p=272889#p272889).

It's not a common bottom pattern so officially I shouldn't call the low was in. I called the low was in based on experiences (viewtopic.php?f=2&t=3671&p=272897#p272897).

Called more up here (viewtopic.php?f=2&t=3671&p=272900#p272900).

Called more up again here (viewtopic.php?f=2&t=3671&p=272919#p272919).

Strong close, so gap up tomorrow? More likely the NFP data tomorrow is bad which further makes the market believe more rate cut even QE is coming therefore bad news becomes good news. Let's see.
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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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