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01/08/2021 Market Recap

Posted: Fri Jan 08, 2021 6:17 pm
by Cobra
Need big up the next Monday to know whether it's the initial bump (up) phase of a bump and run top pattern. Today's up wasn't enough, rather it has a long lower shadow which is a sign of weakness, no enough arguing for a reversal though.
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Re: 01/08/2021 Market Recap

Posted: Fri Jan 08, 2021 6:28 pm
by Cobra
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Once again proves on a range day, do not trust any breakout especially the downside one. Didn't see the later day strong rally. Got to be a news.
viewtopic.php?f=2&t=4396&p=290567#p290567

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.