06/25/2019 Market Recap

[Cobra]

Maybe a little more down to test EMA20 at least?

[Cobra]

SUMMARY:

Was unable to identify a downtrend day until very late so missed the whole day.

NOTE:

It looked like a downtrend day here (viewtopic.php?f=2&t=3514&p=269897#p269897).

The rebound however made me unsure (viewtopic.php?f=2&t=3514&p=269903#p269903).

I saw double top coming (tinted area) but when the target was fulfilled, I thought it's wise to wait for a few bars in case it's once again a typical breakdown then sharp reversal up so I didn't say anything.

Then the very long lower shadow made me think maybe the low was in. Just as usual, I'd need see a 2nd test before consider buying. So by now my plan was to wait for the higher low.

I almost called possible higher low here. The rebound was weak which was why I didn't make the call.

By here it's finally clear to me that it's a downtrend day but to me it's too late, I had no guts to short anymore.

The close was weak, bears were confident so no clear covering, so maybe gap down tomorrow morning?

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.