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01/10/2020 Market Recap

01/10/2020 Market Recap

Postby Cobra » Fri Jan 10, 2020 5:16 pm

Bearish engulfing at 10-day high means 70% chances up the next Monday. It's not typo.
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Re: 01/10/2020 Market Recap

Postby Cobra » Fri Jan 10, 2020 5:24 pm

SUMMARY:

I knew it'd be open high go lower day but the 12:00 pm to 1:30 pm rebound was so strong I even thought the day would close up so didn't see the 2nd leg down thereafter, luckily I didn't to anything as it's a range day according to my rule.

NOTE:

N/A - basically called a range day here (viewtopic.php?f=2&t=3821&p=276415#p276415).

Right about the down target but the 12:00 pm to 1:30 pm made me forget about the target although I didn't comment - called pullback target here (viewtopic.php?f=2&t=3821&p=276434#p276434).

N/A - just a reminder. It went further up which was enough to make me believe bears were over, I was just lucky enough not comment so that people might think I was right (viewtopic.php?f=2&t=3821&p=276444#p276444).

N/A - admitted my failure here although I didn't comment publicly. I thought bears were over because the 12:00 pm to 1:30 pm rebound was so strong so the later 2nd leg down I thought it'd be a higher low, well, wrong (viewtopic.php?f=2&t=3821&p=276455#p276455).

No conclusion drawn from the close.
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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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