Back to www.cobrasmarketview.com

11/17/2023 Market Recap

Post Reply
User avatar
Cobra
Site Admin
Posts: 58093
Joined: Sat Feb 12, 2011 10:29 pm

11/17/2023 Market Recap

Post by Cobra »

Small bar plus volume surge means distribution. The volume increased not much plus it's Friday which usually has a little large volume so it's not a solid "distribution". Anyway, I'll give bears another day for a little meaningful pullback. Right now my guess is a couple of more days of consolidation here, maybe no meaningful pullback.
Attachments
spy.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
Posts: 58093
Joined: Sat Feb 12, 2011 10:29 pm

Re: 11/17/2023 Market Recap

Post by Cobra »

3.png
Boring day. Spent the most of the day playing Age of Wonders 4. Very interesting game, basically Civ + Heroes of Might and Magics, beat both. Civ need introduce some nowadays new concept otherwise no more interest. Heroes of Might and Magic was dead, don't know what's wrong with the team.

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.

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
Post Reply