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06/02/2020 Market Recap

06/02/2020 Market Recap

Postby Cobra » Tue Jun 02, 2020 5:07 pm

Still the blue line above is now the magnet.

spy.png

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Re: 06/02/2020 Market Recap

Postby Cobra » Tue Jun 02, 2020 5:16 pm

SUMMARY:

Typical range day, didn't foresee the sudden sharp up before the close. Feels like a bear fund was forced to cover, or simply a news?

NOTE:

Right - called range day here (viewtopic.php?f=2&t=4041&p=283379#p283379).

Mostly right - defined the day's range here (viewtopic.php?f=2&t=4041&p=283391#p283391).

N/A - reminded the resistance here (viewtopic.php?f=2&t=4041&p=283395#p283395).

N/A - basically saying don't worry the pullback here it's just to test the range low (viewtopic.php?f=2&t=4041&p=283400#p283400).

Very strong close which if it's because of a news then maybe a gap up tomorrow morning.
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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Re: 06/02/2020 Market Recap

Postby jademann » Tue Jun 02, 2020 7:03 pm

If a bear market fund was forced to cover then there will be less buyers in a sell off!
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Re: 06/02/2020 Market Recap

Postby JFR » Tue Jun 02, 2020 11:25 pm

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