08/14/2020 Market Recap

[Cobra]

Still 50% chances of double top here, wait and see.

[Cobra]

SUMMARY:

Range day with up bias in the morning so didn't see the sharp down in the afternoon and the break down and sharp reversal up before the close was typical.

NOTE:

N/A - reminded a possible support here (viewtopic.php?f=2&t=4157&p=285932#p285932).

Right - called the range low was in here (viewtopic.php?f=2&t=4157&p=285943#p285943).

N/A - reminded a possible resistance here (viewtopic.php?f=2&t=4157&p=285952#p285952).

Right but the breakout was short lived - called breakout more likely here (viewtopic.php?f=2&t=4157&p=285971#p285971).

N/A - reminded a possible support here. I actually wrote the break down then sharp reversal up but later erased it, too speculative (viewtopic.php?f=2&t=4157&p=285981#p285981).

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.