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03/31/2021 Market Recap

03/31/2021 Market Recap

Postby Cobra » Wed Mar 31, 2021 5:01 pm

We're on the solid blue line, maintain the forecast illustrated by blue lines as long as no huge up any day from here. A big test for the forecast tomorrow though as the very first trading day of a month has been overwhelmingly bull friendly recently.

spy.png

1stDayOfMonth.png

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Re: 03/31/2021 Market Recap

Postby Cobra » Wed Mar 31, 2021 5:07 pm

2.png

Called uptrend day early enough and warned the possible trend reversal twice so should be a easy trading today. The close was disappointing for an uptrend day.
viewtopic.php?f=2&t=4529&p=293291#p293291
viewtopic.php?f=2&t=4529&p=293321#p293321 (1st warning here, sometimes the touch of EMA20 means only a last push up left therefore the setup is only good for a scalp)
viewtopic.php?f=2&t=4529&p=293332#p293332 (2nd warning)

Calling a pullback failed here. The lesson was lots of narrow range bars don't mean a pullback. I tend do give doji too much bearish implication.
viewtopic.php?f=2&t=4529&p=293310#p293310

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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