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05/27/2020 Market Recap

05/27/2020 Market Recap

Postby Cobra » Wed May 27, 2020 5:07 pm

The chart doesn't see much but the seasonality favors bulls in the next 2 trading days so my bias is a little little bit up.

spy.png

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Re: 05/27/2020 Market Recap

Postby Cobra » Wed May 27, 2020 5:14 pm

SUMMARY:

Called the low was in right. Didn't know the market could go all the way up from then on until the close though.

NOTE:

Right - basically implied a down bias here (viewtopic.php?f=2&t=4032&p=283135#p283135).

Right - called measured move down here (viewtopic.php?f=2&t=4032&p=283136#p283136).

Right - called this bear shall have legs here also explained how I'd judge downtrend day or range day today (viewtopic.php?f=2&t=4032&p=283138#p283138).

N/A - reminded a resistance here and did the follow up that the downtrend day wasn't confirmed yet (viewtopic.php?f=2&t=4032&p=283143#p283143).

Right but didn't know the market could from now on up and up till the close - called the low was in here (viewtopic.php?f=2&t=4032&p=283145#p283145).

Right - called more up here (viewtopic.php?f=2&t=4032&p=283156#p283156).

Very strong close, must be some good news. Gap up tomorrow?
2.png


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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