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07/13/2020 Market Recap
07/13/2020 Market Recap
Very strong bear signal bar at an interesting point (testing the previous high and about to make the year 2020 up) but let's see whether bears can make a follow through first which they were unable to so so for awhile.
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Re: 07/13/2020 Market Recap
SUMMARY:
Half day uptrend day. Didn't see the reverse down coming but once again it proved that sometimes in an uptrend day when the EMA20 gets touched the trend is near over, better take some profits after the rebound from such a touch.
NOTE:
Right for half day - basically called uptrend day here (viewtopic.php?f=2&t=4104&p=284801#p284801).
N/A - reminded the EMA20 buy setup and sometimes the uptrend could be near end here (viewtopic.php?f=2&t=4104&p=284805#p284805).
Right but trading breakout would be loser, treated it as the chance to book profit would be a good idea as in an uptrend day, sometimes the trend is near over when the EMA20 gets touched (viewtopic.php?f=2&t=4104&p=284809#p284809).
Right - called measured move down here (viewtopic.php?f=2&t=4104&p=284815#p284815).
Right but useless for trade - called a rebound here first (viewtopic.php?f=2&t=4104&p=284820#p284820).
The close.
DISCLAIMER:
The trading log above is meant for myself only which main purpose is to help improving my market sense.
Half day uptrend day. Didn't see the reverse down coming but once again it proved that sometimes in an uptrend day when the EMA20 gets touched the trend is near over, better take some profits after the rebound from such a touch.
NOTE:
Right for half day - basically called uptrend day here (viewtopic.php?f=2&t=4104&p=284801#p284801).
N/A - reminded the EMA20 buy setup and sometimes the uptrend could be near end here (viewtopic.php?f=2&t=4104&p=284805#p284805).
Right but trading breakout would be loser, treated it as the chance to book profit would be a good idea as in an uptrend day, sometimes the trend is near over when the EMA20 gets touched (viewtopic.php?f=2&t=4104&p=284809#p284809).
Right - called measured move down here (viewtopic.php?f=2&t=4104&p=284815#p284815).
Right but useless for trade - called a rebound here first (viewtopic.php?f=2&t=4104&p=284820#p284820).
The close.
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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