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07/23/2020 Market Recap

07/23/2020 Market Recap

Postby Cobra » Thu Jul 23, 2020 4:15 pm

You know what I'm about to say: Bears, please show me that you can make 2 consecutive down days before I can put a little faith in you. Eventually bears should be able to make 2 consecutive down days though, it's just a matter of time.

spy.png

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Re: 07/23/2020 Market Recap

Postby Cobra » Thu Jul 23, 2020 4:23 pm

SUMMARY:

Started like a range day but eventually made a break down. Didn't expect the breakdown to go far so missed.

NOTE:

Partial right - basically called a range day here (viewtopic.php?f=2&t=4121&p=285109#p285109).

N/A - reminded a support here also explained what I'd watch (viewtopic.php?f=2&t=4121&p=285117#p285117).

Right - specified the next target here (viewtopic.php?f=2&t=4121&p=285120#p285120).

N/A - reminded a support here, unfortunately failed to see the breakout on the downside could go far (viewtopic.php?f=2&t=4121&p=285121#p285121).

Right but not much meat left - basically called this bear shall have legs here (viewtopic.php?f=2&t=4121&p=285127#p285127).

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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