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01/21/2020 Market Recap

01/21/2020 Market Recap

Postby Cobra » Tue Jan 21, 2020 5:12 pm

Two reversal like bars in a row so maybe more pullback from here.

spy.png

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Re: 01/21/2020 Market Recap

Postby Cobra » Tue Jan 21, 2020 5:21 pm

SUMMARY:

Called the low was in right in the morning, called the pullback at the previous high right, everything seemed perfect until, I guess, a news kicked in, then it's a mess (don't know how to trade), so maybe the next time when the market is apparently affected by a news, just stop trading/commenting.

NOTE:

Right - called the range low was in here (viewtopic.php?f=2&t=3835&p=276735#p276735).

Right but the pullback should be bought part was far away from what I expected - called pullback here (viewtopic.php?f=2&t=3835&p=276747#p276747).

Right but I wouldn't base my trade on guess so useless to me - called a possible rebound here (viewtopic.php?f=2&t=3835&p=276760#p276760).

Right but didn't foresee the sharp pullback before the close so not exactly what I expected - called the low was in here (viewtopic.php?f=2&t=3835&p=276776#p276776)

No conclusion drawn from the close.
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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