05/13/2020 Market Recap

[Cobra]

Let's see tomorrow whether bears can make a breakout to secure the double top pattern. I say, 51% chances.

[Cobra]

SUMMARY:

Break down very late so confirmed downtrend day late, had to go sell bounce which didn't have much meat left.

NOTE:

Right - called the usual rebound target here (viewtopic.php?f=2&t=4012&p=282582#p282582).

N/A - reminded to watch for potential double bottom here (viewtopic.php?f=2&t=4012&p=282588#p282588).

N/A - reminded the break down then sharp reversal pattern here (viewtopic.php?f=2&t=4012&p=282592#p282592).

Right - called this bear shall have legs here (viewtopic.php?f=2&t=4012&p=282595#p282595). Unfortunately I provided a wrong link and just found out now, sorry.

N/A - reminded the EMA short setup here (viewtopic.php?f=2&t=4012&p=282602#p282602).

N/A - explained how I'd judge whether the rebound had chances or not here (viewtopic.php?f=2&t=4012&p=282604#p282604).

Right - called a range until the last hour then a rebound here (viewtopic.php?f=2&t=4012&p=282607#p282607).

Partially wrong - called possible higher low here, however It didn't make the mini target therefore the call wasn't confirmed (viewtopic.php?f=2&t=4012&p=282609#p282609).

N/A - just a follow up of the previous call (viewtopic.php?f=2&t=4012&p=282611#p282611).

N/A - reminded another possible bottom attempt but still the mini target must be exceeded first (viewtopic.php?f=2&t=4012&p=282615#p282615).

N/A - just a follow up of the previous call (viewtopic.php?f=2&t=4012&p=282616#p282616).

Right - not a subtle way of saying told you (viewtopic.php?f=2&t=4012&p=282631#p282631).

The close was strong but it just meant bears were careful therefore not really a good news to bulls as if all bears have covered, bulls later have no one to squeeze.

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.

[Cobra]

The members only report yesterday is open for everyone now. Just want to show you how analysis triumph the statistics as generally a good TA should never ever doubt statistics by saying this time is different.
http://www.cobrasmarketview.com/2020/05 ... gh-wanted/

[Heck]

The members only report yesterday is open for everyone now. Just want to show you how analysis triumph the statistics as generally a good TA should never ever doubt statistics by saying this time is different.
http://www.cobrasmarketview.com/2020/05 ... gh-wanted/

Impressive

[Heck]

SP.1 Jun Fut SELLING < 2,825.00

Dark Market Phantom Zone trade below 2800

[Heck]

Two/Three ISEE OPtion Sentiment Indices = DOWN DOWN
Two Opening long undervalued index PUTS for every call = DOWN DOWN

QQQ SELLING < 279.78
$SPX SELLING < 2,800.03
SPY SELLING < 279.78