07/24/2020 Market Recap

[Cobra]

Not a strong bear follow through although finally bears were able to make 2 straight down days. Still 50% chances of double top here.

[Cobra]

SUMMARY:

Range day, a little too optimistic today.

NOTE:

N/A - reminded a resistance here also explained how I'd judge downtrend day or range day here (viewtopic.php?f=2&t=4123&p=285148#p285148).

Wrong - basically called the low was in here (viewtopic.php?f=2&t=4123&p=285154#p285154).

Wrong - I meant 100% measured move so the call was not right (viewtopic.php?f=2&t=4123&p=285155#p285155).

Wrong - called bull flag here (viewtopic.php?f=2&t=4123&p=285156#p285156).

N/A - reminded the breakdown then sharp reversal up pattern (viewtopic.php?f=2&t=4123&p=285161#p285161).

Right - called the range low here (viewtopic.php?f=2&t=4123&p=285163#p285163).

Right - called bull flag here (viewtopic.php?f=2&t=4123&p=285165#p285165).

The close.

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.