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03/16/2021 Market Recap

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Cobra
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03/16/2021 Market Recap

Post by Cobra »

Bearish reversal day but I simply cannot trust bears unless I see a strong follow through tomorrow which I kind doubt. We all know eventually there'll be a bigger pullback but it's just very hard to time, simply the most of the times it's bears who are disappointed. So from a betting point of view, always bet bears would be disappointed stands better chances and this was why I said "I doubt we'd see a strong bear follow through tomorrow". It's not because I have some evidences saying tomorrow bears would be disappointed.
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Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 03/16/2021 Market Recap

Post by Cobra »

4.png
Missed the break down pattern.
viewtopic.php?f=2&t=4504&p=292825#p292825

Right about bears were over again. So it's lucky today bears got 2 legged down but calling for a 3rd leg down was way too greedy.
viewtopic.php?f=2&t=4504&p=292826#p292826

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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