Cobra's Market View

Bears attempt to push down failed again today but the close wasn't good not sure whether bulls having a 2nd thought or not, need see tomorrow.

Currently, bears failed twice on the downside (Oct 10 and Oct 14) and bulls failed twice as well on the upside (Oct 13 and Oct 14 when bears failed to make a new low but bulls were sold before the close as well), however at least bulls were managed to make a higher high so maybe bias is a little bit up.

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.