Back to www.cobrasmarketview.com

   

01/23/2020 Market Recap

01/23/2020 Market Recap

Postby Cobra » Thu Jan 23, 2020 5:25 pm

Bullish reversal bar (gap down, new low but close up and near the high of the day) so bias is up.
Attachments
spy.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 45103
Joined: Sat Feb 12, 2011 10:29 pm

Re: 01/23/2020 Market Recap

Postby Cobra » Thu Jan 23, 2020 5:33 pm

SUMMARY:

Classic double bottom reversal so easy day.

NOTE:

Right but no trading value here as by this time it's just a guess - reminded the resistance and called range day here (viewtopic.php?f=2&t=3839&p=276876#p276876).

N/A - reminded possible double bottom here (viewtopic.php?f=2&t=3839&p=276890#p276890).

Right - called the low was in here (viewtopic.php?f=2&t=3839&p=276891#p276891).

Right but too late to trade here - just a subtle way of saying told you the low was in (viewtopic.php?f=2&t=3839&p=276904#p276904).

No conclusion drawn from the close.
3.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.

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 45103
Joined: Sat Feb 12, 2011 10:29 pm


Return to Traders Lounge

Who is online

Users browsing this forum: Google Adsense [Bot] and 14 guests