05/15/2024 Market Recap

[Cobra]

Biggest bull bar so far after being up 10 days in a row so feels like an exhaustion bar, the problem is the volume, did increase but not large enough to confirm the exhaustion so probably still some up rooms, for example, a new high tomorrow then reverses then volume increases a lot finally confirms the exhaustion.

[Cobra]

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]

ES daily.

Back to the top.

After 6 weeks of "fooling around," for the sake of the bears. Ha ha.

No guarantee of going straight through, however.

Safer to wait for breakout, pullback to 5330 and resumption of trend up.

Something like this ...

[koolblue]

So where does she stop for a rest? 5245, or 5270 are my best guesses...

[koolblue]