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07/30/2021 Market Recap

07/30/2021 Market Recap

Postby Cobra » Fri Jul 30, 2021 4:18 pm

The chart still looks like a pullback from rising wedge upper boundary to the lower boundary. The next Monday is the very first trading day of a month which, I guess, because of huge amount of 401K money pours in so generally the very first trading day of a month is very bull friendly so I don't know how the bullish Monday fits in the picture, as again, the chart does look a further pullback is a little bit more likely. Maybe huge up Monday then we'll need see Tuesday whether bears are over or not.
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Re: 07/30/2021 Market Recap

Postby Cobra » Fri Jul 30, 2021 4:21 pm

1.png

The low was in call was wrong.
viewtopic.php?f=2&t=4717&p=296414#p296414

The breakdown then sharp reversal up was classic.
viewtopic.php?f=2&t=4717&p=296418#p296418

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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