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04/16/2020 Market Recap
04/16/2020 Market Recap
I don't see the direction from the chart. April option expiration day, Dow down 5 of the last 6.
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Re: 04/16/2020 Market Recap
SUMMARY:
Range day. Called range low and high right, good but wasn't confident enough to believe the range low would hold while the price came down to test the range low, I kept silent.
NOTE:
Right as the test was close enough to the yesterday's low but I actually expected it to break the yesterday's low a little bit as usual - Called possible target (viewtopic.php?f=2&t=3969&p=281445#p281445).
Right - called range day and the range low was in (viewtopic.php?f=2&t=3969&p=281455#p281455).
Right - called range high (viewtopic.php?f=2&t=3969&p=281466#p281466).
N/A - basically meant the range low held now may test the range high (viewtopic.php?f=2&t=3969&p=281490#p281490). In theory in a range day, 80% of the breakout attempt would fail, just today the fall from the range high was too fast so I had doubt whether the range low would hold or not.
No conclusion drawn from the close.
DISCLAIMER:
The trading log above is meant for myself only which main purpose is to help improving my market sense.
Range day. Called range low and high right, good but wasn't confident enough to believe the range low would hold while the price came down to test the range low, I kept silent.
NOTE:
Right as the test was close enough to the yesterday's low but I actually expected it to break the yesterday's low a little bit as usual - Called possible target (viewtopic.php?f=2&t=3969&p=281445#p281445).
Right - called range day and the range low was in (viewtopic.php?f=2&t=3969&p=281455#p281455).
Right - called range high (viewtopic.php?f=2&t=3969&p=281466#p281466).
N/A - basically meant the range low held now may test the range high (viewtopic.php?f=2&t=3969&p=281490#p281490). In theory in a range day, 80% of the breakout attempt would fail, just today the fall from the range high was too fast so I had doubt whether the range low would hold or not.
No conclusion drawn from the close.
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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Re: 04/16/2020 Market Recap
ES 5. Price is just drifting along, as I do some review work on the day.
ES daily. The move up at the end of the day session has price poking its nose above the resistance level.
Charts posted are not recommendations. They are just a sharing of information.
Re: 04/16/2020 Market Recap
Dow surge
Charts posted are not recommendations. They are just a sharing of information.