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03/06/2020 Market Recap

03/06/2020 Market Recap

Postby Cobra » Fri Mar 06, 2020 6:10 pm

Double bottom or not, wait and see. Very hard to call here. Why? Probably the majority of the people including I, who, as long as, have a little trading experiences, would expect the Feb 28 low to be taken decisively the next Monday before a reversal up. That is the problem...
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Re: 03/06/2020 Market Recap

Postby Cobra » Fri Mar 06, 2020 6:18 pm

SUMMARY:

A good example for why it's important to know it's a range day or trend day before trading.

NOTE:

Right - called more up here (viewtopic.php?f=2&t=3906&p=279227#p279227).

N/A - just a reminder of a resistance here (viewtopic.php?f=2&t=3906&p=279233#p279233).

N/A, very important to wait for the next couple of bars otherwise you'd be trapped - explained how I'd judge uptrend day or range day here (viewtopic.php?f=2&t=3906&p=279239#p279239).

Right - called range day here (viewtopic.php?f=2&t=3906&p=279254#p279254).

N/A - called more down right but wasn't sure about the target so helpless (viewtopic.php?f=2&t=3906&p=279264#p279264).

N/A - guessed the sharp rebound before the close was just bears covering, not the big money came to rescue (viewtopic.php?f=2&t=3906&p=279276#p279276).

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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