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04/20/2020 Market Recap
04/20/2020 Market Recap
Let's see whether bears are able to make a follow through tomorrow first otherwise the pullback today doesn't mean anything. Noticed that bears had no consecutive down days since April.
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Re: 04/20/2020 Market Recap
SUMMARY:
Range day. Didn't see the pullback could go all the way to break the day low.
NOTE:
N/A - explained the usual pattern here (viewtopic.php?f=2&t=3974&p=281589#p281589).
Right the most of the day - called the range low and the range day according to my standard (viewtopic.php?f=2&t=3974&p=281603#p281603) which actually saved me from simply buy and hold.
Right - called a pullback here (viewtopic.php?f=2&t=3974&p=281606#p281606).
Right but only good for a scalp, it was a lower high - called the pullback would be bought here (viewtopic.php?f=2&t=3974&p=281615#p281615).
Right - called range high was in here (viewtopic.php?f=2&t=3974&p=281622#p281622). I was busy on something else, should've been called much earlier.
N/A - called measured move down here, the question mark actually meant I wasn't sure whether it's 100% measured move down. A partial measured move down was for sure (viewtopic.php?f=2&t=3974&p=281629#p281629).
Right - called the day low wouldn't hold (viewtopic.php?f=2&t=3974&p=281638#p281638).
N/A - reminded the usual break down then sharp reverse up pattern (viewtopic.php?f=2&t=3974&p=281640#p281640).
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.
Range day. Didn't see the pullback could go all the way to break the day low.
NOTE:
N/A - explained the usual pattern here (viewtopic.php?f=2&t=3974&p=281589#p281589).
Right the most of the day - called the range low and the range day according to my standard (viewtopic.php?f=2&t=3974&p=281603#p281603) which actually saved me from simply buy and hold.
Right - called a pullback here (viewtopic.php?f=2&t=3974&p=281606#p281606).
Right but only good for a scalp, it was a lower high - called the pullback would be bought here (viewtopic.php?f=2&t=3974&p=281615#p281615).
Right - called range high was in here (viewtopic.php?f=2&t=3974&p=281622#p281622). I was busy on something else, should've been called much earlier.
N/A - called measured move down here, the question mark actually meant I wasn't sure whether it's 100% measured move down. A partial measured move down was for sure (viewtopic.php?f=2&t=3974&p=281629#p281629).
Right - called the day low wouldn't hold (viewtopic.php?f=2&t=3974&p=281638#p281638).
N/A - reminded the usual break down then sharp reverse up pattern (viewtopic.php?f=2&t=3974&p=281640#p281640).
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.
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Re: 04/20/2020 Market Recap
ES 5. What goes up must come down. Back to where the day session started.
Charts posted are not recommendations. They are just a sharing of information.