Back to www.cobrasmarketview.com

01/06/2020 Market Recap

Post Reply
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

01/06/2020 Market Recap

Post by Cobra »

The huge up was interrupted, feels only if the event is gone the market will resume up. True or not we'll have to wait and see. Noticed the volume surge again, to which I'll pay attention recently - no matter up or down from now on as long as we constantly have volume surge then it's time to be careful.
spy.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 01/06/2020 Market Recap

Post by Cobra »

1.png
Didn't expect big up in the morning, by the time I realized it's an uptrend day, it's too late. Only commented "the pullback would be bought" which indeed, but only good for a scalp.
viewtopic.php?f=2&t=4392&p=290454#p290454 (even no pullback here, instead just a red doji then up and up which was a sign of a strong trend)
viewtopic.php?f=2&t=4392&p=290464#p290464
viewtopic.php?f=2&t=4392&p=290467#p290467

Didn't see the sharp pullback coming later. It did make a double top before the pullback but I didn't pay attention and didn't expect a big pullback, too bad.
viewtopic.php?f=2&t=4392&p=290472#p290472

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.

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
Post Reply