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11/06/2019 Market Recap

11/06/2019 Market Recap

Postby Cobra » Wed Nov 06, 2019 5:26 pm

The chart isn't bearish.
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Re: 11/06/2019 Market Recap

Postby Cobra » Wed Nov 06, 2019 5:33 pm

SUMMARY:

Range day. The sharp drop between 11:30 am to 12:00 pm should be news driven so hard to predict. I didn't see it reversed up all the way till the close.

NOTE:

Called range day and maybe range low here (viewtopic.php?f=2&t=3724&p=274109#p274109).

The comment here was just to say: "Hey, I'm still awake" (viewtopic.php?f=2&t=3724&p=274120#p274120). I certainly didn't see it can rebound all the way back.

Called more up here but for a range day it's meaningless as chasing in a range day is always dangerous. The purpose still was to say hey I was still watching the market (viewtopic.php?f=2&t=3724&p=274126#p274126).

So so close but it's a consolidation pattern since 2 pm, so if the pattern continues into tomorrow, the bias should be up.
1.png


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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