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07/31/2020 Market Recap

07/31/2020 Market Recap

Postby Cobra » Fri Jul 31, 2020 4:53 pm

I see kind of ascending triangle so bias is up now.
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Re: 07/31/2020 Market Recap

Postby Cobra » Fri Jul 31, 2020 4:58 pm

SUMMARY:

Didn't see the sharp down in the morning but caught the reversal up in the afternoon.

NOTE:

N/A - explained how I'd judge downtrend day or range day here (viewtopic.php?f=2&t=4135&p=285391#p285391).

Right but didn't see the sharp pullback thereafter - called range day here (viewtopic.php?f=2&t=4135&p=285393#p285393).

Right - called break down likely here (viewtopic.php?f=2&t=4135&p=285401#p285401).

N/A - explained how I'd judge whether bulls have chances or not here (viewtopic.php?f=2&t=4135&p=285403#p285403).

Right - called the low was in here (viewtopic.php?f=2&t=4135&p=285406#p285406). Didn't know the market could push up so much from here though.

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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