04/30/2020 Market Recap

[Cobra]

Again one down day doesn't mean anything, no to mention it's not a strong bear bar so it's not a good sell signal bar yet (the next bar falls below the signal bar low will trigger a L1 sell which then becomes an entry bar. Ideally we need see both signal bar and entry bar are strong).

[Cobra]

SUMMARY:

Spent the most of the day trying to find the bottom.

NOTE:

N/A - explained the usual rebound target on gap down open (viewtopic.php?f=2&t=3991&p=282062#p282062).

N/A - a subtle way saying told you (viewtopic.php?f=2&t=3991&p=282065#p282065).

N/A - probably I was a little too optimistic here (viewtopic.php?f=2&t=3991&p=282067#p282067).

N/A - just mentioned a possible turning point (viewtopic.php?f=2&t=3991&p=282074#p282074).

Right - called a rebound here (viewtopic.php?f=2&t=3991&p=282078#p282078).

Wrong - a subtle way saying it might resume down. I knew it wouldn't work (according to my experiences) and this was why I used a very subtle way (viewtopic.php?f=2&t=3991&p=282082#p282082).

N/A - another reminder of a possible turning point (viewtopic.php?f=2&t=3991&p=282096#p282096).

Right - called possible higher low here (viewtopic.php?f=2&t=3991&p=282097#p282097).

Right - the bottom was confirmed here (viewtopic.php?f=2&t=3991&p=282101#p282101).

N/A - just mentioned a resistance here. I didn't think it'd be a problem though (viewtopic.php?f=2&t=3991&p=282102#p282102).

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.