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04/23/2020 Market Recap

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Cobra
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04/23/2020 Market Recap

Post by Cobra »

Ugly bear bar today so the pink tinted area target still has chances.
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Cobra
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Re: 04/23/2020 Market Recap

Post by Cobra »

SUMMARY:

Started like an uptrend day but failed to pass the conservative way of judging uptrend day. Caught the lower high trend reversal (down) today. I was so used to the higher low trend reversal (up) but very often forgot the lower high trend reversal (down), so it's a progress to me today.

NOTE:

N/A - explained how I'd judge uptrend day or range day here (viewtopic.php?f=2&t=3980&p=281786#p281786). Glad I was out otherwise I might have called the uptrend day earlier (just maybe). Thanks to my toilet (now you know why I couldn't wait until the market closed. It's THE toilet, man) which was broken last night, you know that sophisticated flush system, the delicate part that transfers the biological power to lift the water gate was broken, so I went Home depot for curb side pick up which was very convenient and safe, I didn't need step out of the car. The guys from Home depot talked to me always on the passage side which now I realized how smart they're.

Right - called range high here which was excellent (viewtopic.php?f=2&t=3980&p=281789#p281789).

N/A - just saying that I was awake (viewtopic.php?f=2&t=3980&p=281799#p281799). Good I saw "bulls fighting well".

Close enough - I was a little too optimistic here because the rebound was so sharp (viewtopic.php?f=2&t=3980&p=281800#p281800).

N/A - subtle way saying told you (viewtopic.php?f=2&t=3980&p=281802#p281802).

Right but too late - called slightly lower low here (viewtopic.php?f=2&t=3980&p=281804#p281804).

Right but I didn't expect the sharp down before the close. I mean it's always easy to call direction but to actually trade it is very hard - called the low was in here (viewtopic.php?f=2&t=3980&p=281806#p281806).

Weak close, so gap down tomorrow?
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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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JFR
Posts: 10127
Joined: Sun Dec 02, 2012 7:24 pm

Re: 04/23/2020 Market Recap

Post by JFR »

ES 5. Sideways drift since the close of the day session.

2020-04-23_2050.png
Last edited by JFR on Thu Apr 23, 2020 11:55 pm, edited 2 times in total.
Charts posted are not recommendations. They are just a sharing of information.
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JFR
Posts: 10127
Joined: Sun Dec 02, 2012 7:24 pm

Re: 04/23/2020 Market Recap

Post by JFR »

SPY daily at the close of the day session.

2020-04-23_2039.png
Charts posted are not recommendations. They are just a sharing of information.
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