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03/27/2020 Market Recap

03/27/2020 Market Recap

Postby Cobra » Fri Mar 27, 2020 5:04 pm

Terrible close but too early to say bulls were over.
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Re: 03/27/2020 Market Recap

Postby jademann » Fri Mar 27, 2020 5:11 pm

So is the rule that gaps will be filled an unbreakable rule or just a recommendation?
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Re: 03/27/2020 Market Recap

Postby Cobra » Fri Mar 27, 2020 5:16 pm

SUMMARY:

Range day, mostly didn't know what the market was doing until the breakout became clear. Didn't see the last 30 minutes sharp down though. Guess now it's bulls' turn who dare not hold positions over the weekend.

NOTE:

Wrong but who'd bet on 51% chances? So no harm - called bias a little bit down here (viewtopic.php?f=2&t=3939&p=280541#p280541).

Right - called uptrend day possible but I'd treat it as a range day here (viewtopic.php?f=2&t=3939&p=280545#p280545). Actually it was for awhile looked like an uptrend day.

N/A - A subtle way saying it's a range day here (viewtopic.php?f=2&t=3939&p=280558#p280558).

Right - called breakout on the upside likely here (viewtopic.php?f=2&t=3939&p=280577#p280577).

No conclusion drawn from the close. The close was terrible but it could just be bulls were careful over the weekend so cannot say it's bearish yet.
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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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Re: 03/27/2020 Market Recap

Postby Cobra » Fri Mar 27, 2020 5:25 pm

jademann wrote:So is the rule that gaps will be filled an unbreakable rule or just a recommendation?


Forget about the gaps. 80% gap will be filled but sometimes it takes forever, cannot be used to trade.

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Re: 03/27/2020 Market Recap

Postby jademann » Sat Mar 28, 2020 1:55 pm

Cobra wrote:
jademann wrote:So is the rule that gaps will be filled an unbreakable rule or just a recommendation?


Forget about the gaps. 80% gap will be filled but sometimes it takes forever, cannot be used to trade.


Roger, thanks Cobra.
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