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02/26/2020 Market Recap

02/26/2020 Market Recap

Postby Cobra » Wed Feb 26, 2020 6:11 pm

Still expect a rebound as early as tomorrow but again it's just a rebound. This bear looks serious so far :lol:
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Re: 02/26/2020 Market Recap

Postby Cobra » Wed Feb 26, 2020 6:23 pm

SUMMARY:

Range day, except the 12:30 pm small rebound, I didn't see the sharp pullback from the morning high and sharp pullback after the 12:30 rebound and when the rebound started around 1:30 pm I wasn't sure about the direction anymore, so kept quiet whole day.

NOTE:

N/A - explained how I'd judge uptrend day or range day here (viewtopic.php?f=2&t=3891&p=278556#p278556).

Right but a couple of bars earlier - called a rebound here (viewtopic.php?f=2&t=3891&p=278584#p278584). Didn't foresee the sharp pullback before and thereafter so remained quiet most of the time today.

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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