01/05/2023 Market Recap

[Cobra]

Pennant which usually means continuation so bias is down.

In case you're interested: Why yesterday I couldn't say it's a bigger pennant? Because if today keeps going up then the chart could be (the original smaller) pennant breakout for the 2nd time on the upside and succeed. Instead, today went down confirmed it's just a bigger pennant.

[Cobra]

Looked like it was about to breakdown but again didn't break, it's a range day after all, even indeed breakdown, most likely it'd be a false one anyway.
viewtopic.php?f=2&t=5525&p=311160#p311160

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.