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04/12/2021 Market Recap

PostPosted: Mon Apr 12, 2021 4:54 pm
by Cobra
Still expect a day or two pullback as early as tomorrow because SPY made 12 consecutive close > open bull bars which tied the record, at certain point should be a day that closes below open.


Tuesday has been known as a turnaround Tuesday and has been bear friendly recently, so bears may have some chances tomorrow.


Re: 04/12/2021 Market Recap

PostPosted: Mon Apr 12, 2021 5:14 pm
by Cobra

Called the low was in right.

Again it shows the very first breakout usually is a false one.

Called the surge up before the close right.


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.