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01/22/2020 Market Recap

01/22/2020 Market Recap

Postby Cobra » Wed Jan 22, 2020 5:42 pm

Filled black bar has a little bit higher chances leading to a pullback so 3 reversal like bars in a row therefore still expect a pullback of a day or two.
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Re: 01/22/2020 Market Recap

Postby Cobra » Wed Jan 22, 2020 5:47 pm

SUMMARY:

Didn't see the sharp reversal down in the morning and called the low was in wrong later. Luckily the uptrend day wasn't confirmed in the morning so I didn't long.

NOTE:

N/A - explained how I'd judge uptrend day here (viewtopic.php?f=2&t=3837&p=276800#p276800).

Partially right - explained that the uptrend day wasn't confirmed but at this stage it looked like the up may have legs which turned out wrong (viewtopic.php?f=2&t=3837&p=276804#p276804).

Wrong - called the low might be in or close here (viewtopic.php?f=2&t=3837&p=276827#p276827).

Right but too late - finally realized it's a measure move down here (viewtopic.php?f=2&t=3837&p=276848#p276848).

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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