03/24/2020 Market Recap

[Cobra]

Will the 7th time finally be a charm? Still 51% chances the low was in. In the past a bar like today's bar the chances of a bottom would be above 80%, but not this time since we already had several similar cases before which failed the 2nd day. So a follow through tomorrow is very important. Is it too late if indeed we have a follow through tomorrow? Well, maybe a little late for buying the first leg down but generally a V shaped bottom is very rare so chances are the low of the yesterday would be revisited sometimes later.

[Cobra]

SUMMARY:

Nowadays is very hard to know range day or trend day. Today started like an uptrend day but turned out to be a range day actually. The uptrend day was confirmed later than usual though so maybe in the future I shouldn't treat such a day as an uptrend day.

NOTE:

Wrong - explained how I'd judge uptrend day here (viewtopic.php?f=2&t=3933&p=280335#p280335). According to my condition, it should be an uptrend day although the confirmation was very late (I said couple of bars, not dozens of bars, right?).

Right - called breakout likely here (viewtopic.php?f=2&t=3933&p=280341#p280341).

Not exactly right as the pullback was much much larger than I thought - called the pullback would be bought here (viewtopic.php?f=2&t=3933&p=280355#p280355).

N/A - called the pullback would be bought but warned that the uptrend of the day might be over here (viewtopic.php?f=2&t=3933&p=280357#p280357).

Right but not much downside left, so no use for the actual trade - called more down here (viewtopic.php?f=2&t=3933&p=280364#p280364).

N/A - Might not easily be noticed but I think I made a good call here as I said there're chances it's a range day therefore the range low might be in which turned out indeed (viewtopic.php?f=2&t=3933&p=280367#p280367).

Right - called more up here (viewtopic.php?f=2&t=3933&p=280375#p280375).

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.

[jademann]

Vix being stubborn. May not be done yet.
https://stockcharts.com/h-sc/ui?s=$VIX& ... 2562907989

[BullBear52x]

FYI, swing buy triggered, 2550 is cake walk until then.

[BullBear52x]

Trend change with a support from TRIN, this is real deal, up early tomorrow and find excuse to buy.

[Heck]

WFC Target - 100 %
From 29.17 to 0
- 7.05 % Dividend

177.78 % Debt/Equity

[Heck]

[quote="buy.[/quote]

VBK Target + 29 %
From 135.89 to 175
+ 1 % Dividend Yield

[JFR]

ES 5. Sliding down beneath support and the EMA 20.

[Heck]

[quote="buy.

VBK Target + 29 %
From 135.89 to 175
+ 1 % Dividend Yield[/quote]

VBK Target + 33 %
From 145.92 to 207.7
+ 0.95 % Dividend Yield