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02/25/2020 Market Recap
02/25/2020 Market Recap
Maybe a rebound as early as tomorrow because the volume was huge today which may not be enough for rebound tomorrow but certainly we can senses some panics which ironically is good for bulls. It's just a rebound if luckily we get it in the next couple of days, this bear isn't done it, be prepared.
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Re: 02/25/2020 Market Recap
SUMMARY:
Identified the downtrend day not too late the rest of the day was then easy. Usually isn't easy because even in a downtrend day the rebound usually is very strong enough to make people believe the low was in. Today however, no strong rebound until after 2:30 pm which made 2 long upper shadows at EMA20 so should be easy to know it would fail. Overall, rare easy bear day.
NOTE:
Right - reminded bulls be careful here (viewtopic.php?f=2&t=3889&p=278455#p278455).
N/A - explained how I'd judge downtrend day here (viewtopic.php?f=2&t=3889&p=278462#p278462). It might not easy to confirm the downtrend day later as there's no strong bear bar but the EMA short setup should have provided a 2nd chances if missed the trend confirmation.
N/A - reminded EMA short setup here (viewtopic.php?f=2&t=3889&p=278488#p278488).
Right - another remind for bulls to be careful here (viewtopic.php?f=2&t=3889&p=278506#p278506).
Wrong but I also clearly said the rebound should be sold which means the rebound call was just a comment - called a possible rebound soon here (viewtopic.php?f=2&t=3889&p=278510#p278510).
N/A - reminded EMA short setup again here (viewtopic.php?f=2&t=3889&p=278515#p278515). The rebound stalled at EMA20 with 2 long upper shadow which was enough to make me believe the selling wasn't over. Forgot to comment as it's near the close, I was busy open/close positions.
No conclusion drawn from the close
DISCLAIMER:
The trading log above is meant for myself only which main purpose is to help improving my market sense.
Identified the downtrend day not too late the rest of the day was then easy. Usually isn't easy because even in a downtrend day the rebound usually is very strong enough to make people believe the low was in. Today however, no strong rebound until after 2:30 pm which made 2 long upper shadows at EMA20 so should be easy to know it would fail. Overall, rare easy bear day.
NOTE:
Right - reminded bulls be careful here (viewtopic.php?f=2&t=3889&p=278455#p278455).
N/A - explained how I'd judge downtrend day here (viewtopic.php?f=2&t=3889&p=278462#p278462). It might not easy to confirm the downtrend day later as there's no strong bear bar but the EMA short setup should have provided a 2nd chances if missed the trend confirmation.
N/A - reminded EMA short setup here (viewtopic.php?f=2&t=3889&p=278488#p278488).
Right - another remind for bulls to be careful here (viewtopic.php?f=2&t=3889&p=278506#p278506).
Wrong but I also clearly said the rebound should be sold which means the rebound call was just a comment - called a possible rebound soon here (viewtopic.php?f=2&t=3889&p=278510#p278510).
N/A - reminded EMA short setup again here (viewtopic.php?f=2&t=3889&p=278515#p278515). The rebound stalled at EMA20 with 2 long upper shadow which was enough to make me believe the selling wasn't over. Forgot to comment as it's near the close, I was busy open/close positions.
No conclusion drawn from the close
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.
Re: 02/25/2020 Market Recap
Excellent calls on a difficult day CobraCobra wrote:SUMMARY:
Identified the downtrend day not too late the rest of the day was then easy. Usually isn't easy because even in a downtrend day the rebound usually is very strong enough to make people believe the low was in. Today however, no strong rebound until after 2:30 pm which made 2 long upper shadows at EMA20 so should be easy to know it would fail. Overall, rare easy bear day.
NOTE:
Right - reminded bulls be careful here (viewtopic.php?f=2&t=3889&p=278455#p278455).
N/A - explained how I'd judge downtrend day here (viewtopic.php?f=2&t=3889&p=278462#p278462). It might not easy to confirm the downtrend day later as there's no strong bear bar but the EMA short setup should have provided a 2nd chances if missed the trend confirmation.
N/A - reminded EMA short setup here (viewtopic.php?f=2&t=3889&p=278488#p278488).
Right - another remind for bulls to be careful here (viewtopic.php?f=2&t=3889&p=278506#p278506).
Wrong but I also clearly said the rebound should be sold which means the rebound call was just a comment - called a possible rebound soon here (viewtopic.php?f=2&t=3889&p=278510#p278510).
N/A - reminded EMA short setup again here (viewtopic.php?f=2&t=3889&p=278515#p278515). The rebound stalled at EMA20 with 2 long upper shadow which was enough to make me believe the selling wasn't over. Forgot to comment as it's near the close, I was busy open/close positions.
No conclusion drawn from the close 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.
Thanks