03/12/2021 Market Recap

[Cobra]

Still 50% chances of double top here. I think it'd be just 40% chances though. The steady down volume (red line) should mean a day pullback as early as the next Monday. Probably will be slow up but boring everyday the next week because NYMO needs time to slowly drop below zero.

[Cobra]

Classice break down then reversal up and up.
viewtopic.php?f=2&t=4499&p=292719#p292719
viewtopic.php?f=2&t=4499&p=292729#p292729

The breakout took longer time than I thought.
viewtopic.php?f=2&t=4499&p=292740#p292740
viewtopic.php?f=2&t=4499&p=292750#p292750

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.

[JFR]

SPY daily.  Sputtering liftoff.  Hitting the pause button.  Thin air up so high above the clouds.  Still looks, and feels, like up.  Although it may pull back a bit to catch its breath.