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08/02/2021 Market Recap

08/02/2021 Market Recap

Postby Cobra » Mon Aug 02, 2021 4:40 pm

Follow through wanted tomorrow, one single good looking bear bar doesn't mean anything unless we can see a good follow through. I don't even remember when bears are smooth so be prepared to be disappointed again. Seasonality favors bears though for the August first 9 trading days so bears do have chances.
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Re: 08/02/2021 Market Recap

Postby Cobra » Mon Aug 02, 2021 4:44 pm

4.png

Good call on the downside as most bear calls are simply wrong.
viewtopic.php?f=2&t=4720&p=296444#p296444

Another good call for another leg down as again usually bears would have only one leg down.
viewtopic.php?f=2&t=4720&p=296451#p296451

Good double top call.
viewtopic.php?f=2&t=4720&p=296452#p296452

Good I insisted another bull follow through.
viewtopic.php?f=2&t=4720&p=296455#p296455

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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