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05/22/2020 Market Recap

05/22/2020 Market Recap

Postby Cobra » Fri May 22, 2020 5:15 pm

Still testing the MA200, the chart is neutral, the feeling by watching the intraday move is, the market simply refuses to make even a tiny pullback.
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Re: 05/22/2020 Market Recap

Postby Cobra » Fri May 22, 2020 5:25 pm

SUMMARY:

Range day. Called double bottom a little too early although eventually right.

NOTE:

Right - called range day here (viewtopic.php?f=2&t=4027&p=282986#p282986).

Right - confirmed range day here. Call the low was in was a little too optimistic, not very wrong though (viewtopic.php?f=2&t=4027&p=282992#p282992).

Right but way too early, just lucky the pullback later didn't break the day low otherwise in theory the stop loss would be triggered therefore it'd be a failed call - called double bottom here (viewtopic.php?f=2&t=4027&p=283004#p283004).

N/A - I actually thought bears were over here (viewtopic.php?f=2&t=4027&p=283030#p283030).

Right - called more up here (viewtopic.php?f=2&t=4027&p=283032#p283032).

Wrong - it's actually a double top (viewtopic.php?f=2&t=4027&p=283035#p283035).

The close.
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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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