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01/07/2021 Market Recap

01/07/2021 Market Recap

Postby Cobra » Thu Jan 07, 2021 5:52 pm

Big up again tomorrow then it'd be a bump and run pattern. The bump phase would be a steeper rising as illustrated by the blue line, bears would find very hard to bear so be careful. For now it may need some imaginations to believe we'll have the bump phase but with so much free money printed everyday, nothing would surprise me anymore. Let's see.
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Re: 01/07/2021 Market Recap

Postby Cobra » Thu Jan 07, 2021 5:59 pm

3.png

Another up in the morning day. When I said the pullback would be bought, I didn't expect it'd take the rest of the day. Well, at least bulls had a little improvement today: No more afternoon selling.
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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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