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10/12/2020 Market Recap
10/12/2020 Market Recap
See explanation on the chart below, it's probably an exhaustion bar today so expect a pullback as early as tomorrow (sometimes it could be a gap up doji tomorrow then pullback the day after tomorrow so I can only say as early as) then we'll see.
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Re: 10/12/2020 Market Recap
SUMMARY:
Recognized an uptrend day in time (although not early) the rest of the day should then be easy. Didn't see the first touch of ema 20 in 2+ hours would have no rebound which was rare.
NOTE:
Right - basically called an uptrend day here (viewtopic.php?f=2&t=4252&p=288209#p288209).
Right - called the pullback would be bought here (viewtopic.php?f=2&t=4252&p=288214#p288214).
Right - another call of a pullback would be bought here (viewtopic.php?f=2&t=4252&p=288217#p288217). The pullback call was a couple of bars too early though.
N/A - reminded the EMA buy setup here which wasn't trigged though (viewtopic.php?f=2&t=4252&p=288228#p288228).
The close.
DISCLAIMER:
The trading log above is meant for myself only which main purpose is to help improving my market sense.
Recognized an uptrend day in time (although not early) the rest of the day should then be easy. Didn't see the first touch of ema 20 in 2+ hours would have no rebound which was rare.
NOTE:
Right - basically called an uptrend day here (viewtopic.php?f=2&t=4252&p=288209#p288209).
Right - called the pullback would be bought here (viewtopic.php?f=2&t=4252&p=288214#p288214).
Right - another call of a pullback would be bought here (viewtopic.php?f=2&t=4252&p=288217#p288217). The pullback call was a couple of bars too early though.
N/A - reminded the EMA buy setup here which wasn't trigged though (viewtopic.php?f=2&t=4252&p=288228#p288228).
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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Subscribers can find all the members only posts HERE.
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Re: 10/12/2020 Market Recap
SPY daily. Sprint to the top, once it broke free of the EMA 20. Today's high > the low of September 2nd. The market that will not die. Up 5.58 for the day.
Charts posted are not recommendations. They are just a sharing of information.