SUMMARY:
Called downtrend day but later spotted the double bottom right.
NOTE:
Right - called down likely here (
viewtopic.php?f=2&t=3976&p=281671#p281671).
N/A - explained how I'd judge downtrend day or range day here (
viewtopic.php?f=2&t=3976&p=281679#p281679).
N/A - reminded the 2nd chances to confirm whether the day was a downtrend day or not (
viewtopic.php?f=2&t=3976&p=281681#p281681).
N/A - explained how to know bulls would have chances (
viewtopic.php?f=2&t=3976&p=281689#p281689).
Wrong - called more down here (
viewtopic.php?f=2&t=3976&p=281706#p281706). The pattern looked really good for bears though.
N/A - reminded a possible double bottom here (
viewtopic.php?f=2&t=3976&p=281707#p281707).
Right - confirmed double bottom here (
viewtopic.php?f=2&t=3976&p=281710#p281710).
Right but would be a bad trade if bought the breakout. Usually the very first breakout cannot be trusted though so I'd be fine - called breakout likely here (
viewtopic.php?f=2&t=3976&p=281714#p281714).
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.
- 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.