03/24/2021 Market Recap

[Cobra]

Bears did make some progress recently, good. But:

The problem is down 4 days of the last 5, bears didn't go far. Usually down is much faster than up, slow down like now may mean it's just a consolidation or bull flag therefore favors bulls. Bears need a big down day as soon as possible to break the bull flag like pattern shown on the chart. The time is not with bears.

[Cobra]

Another day started strong so I called the low was in again, wrong.
viewtopic.php?f=2&t=4517&p=293072#p293072

By here the lower high was clear the bears were in control.
viewtopic.php?f=2&t=4517&p=293082#p293082

The comment here implied now I started to give bears a little bit more trust which was good.
viewtopic.php?f=2&t=4517&p=293090#p293090

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.