07/02/2020 Market Recap

[Cobra]

Filled black bar which means intraday reversal (down) so maybe a pullback here first then we'll see.

[Cobra]

SUMMARY:

Was once looked like a downtrend day but failed the 2nd confirmation. Bears can not be trusted so I am always very prudent in calling a downtrend day which was why I needed a 2nd confirmation.

NOTE:

Right - called a pullback to EMA20 (viewtopic.php?f=2&t=4090&p=284564#p284564).

N/A - first chance to know a downtrend day (viewtopic.php?f=2&t=4090&p=284567#p284567). I don't trust bears so I'll need a 2nd confirmation later.

N/A - explained the 2nd confirmation for a downtrend day here (viewtopic.php?f=2&t=4090&p=284572#p284572).

Right - called range low was in here (viewtopic.php?f=2&t=4090&p=284577#p284577).

Right - called more up here. It took longer than I thought to make the breakout though (viewtopic.php?f=2&t=4090&p=284580#p284580).

Didn't foresee the sharp pullback before the close.

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.