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11/17/2020 Market Recap

PostPosted: Tue Nov 17, 2020 5:24 pm
by Cobra
Let's see whether bears are able to make 2 down days in a row first before yelling the end of the world is coming. Today actually is a bull bar because the close was higher than the open.

Re: 11/17/2020 Market Recap

PostPosted: Tue Nov 17, 2020 5:28 pm
by Cobra
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Thought the 4th time would be the charm therefore called the breakout was more likely for real. Unfortunately it failed. I got too optimistic forgot today's up was within the yesterday's range therefore likely was a range day therefore the breakout couldn't be trusted.
viewtopic.php?f=2&t=4312&p=289448#p289448 (The call here was actually good, despite the breakout looked string it was indeed a false one. I simply see too many false breakout nowadays)
viewtopic.php?f=2&t=4312&p=289449#p289449

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.