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06/17/2021 Market Recap

06/17/2021 Market Recap

Postby Cobra » Thu Jun 17, 2021 5:04 pm

Opened low closed higher (even though still down and this was why it's a hollow red bar - you need good eyes to see), rebounded from EMA20 and volume surge (main reason), so maybe a rebound here first then we'll see? Similar to the yesterday's market recap, you can say that volume surge on the 3rd down day no way means exhaustion so my call for a rebound should not be justified. Maybe you're right and this is why I have a question mark. Yesterday I said the 2nd down day with volume surge was a bad sign, shouldn't be an exhaustion. Today was only the 3rd day and yet I read it as an exhaustion which might not sound convincing, yes, I know.
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Re: 06/17/2021 Market Recap

Postby Cobra » Thu Jun 17, 2021 5:08 pm

6.png

The range low call was wrong. Worked for awhile though.
viewtopic.php?f=2&t=4649&p=295373#p295373

Once again it was a breakdown then sharp reversal up. It was a good call though.
viewtopic.php?f=2&t=4649&p=295391#p295391

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.

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