05/12/2022 Market Recap

[Cobra]

Down with decreased volume so no panic yet. Actually people are buying every step down, just check the 60 min chart, all bull bars were huge (green arrows) which is typical in a downtrend - every rebound looks like the low was in.

[Cobra]

No lesson learnt.

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.

[JFR]

SPY daily. PnF. As we know, the bears are serious this time. Break down on Monday. Strong push down since then. Is it enough to break the dam? Not sure. But it has our attention. Times are not normal. Many, many bullish players out there, looking for any dip. Play the charts. Play what you see. Short sales. Short term. Put your stops in. "Let's be careful out there."

[JFR]

SPY 5 minute. PnF. Shorter term. Cascade effect, tumbling down. I would put more weight on the daily chart, which is not as bearish. Scary time, however, for confirmed bulls, or those locked in long.

Just in my opinion, sharing information on Cobra's forum.