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04/28/2021 Market Recap

04/28/2021 Market Recap

Postby Cobra » Wed Apr 28, 2021 4:44 pm

I don't remember I've ever seen 3 doji in a row on SPY so I don't know what it means. It doesn't look like a top pattern because it's flat so probably still some up rooms?

spy.png

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Re: 04/28/2021 Market Recap

Postby Cobra » Wed Apr 28, 2021 4:48 pm

5.png

The mention that "FOMC day usually closes weak" was good.
viewtopic.php?f=2&t=4571&p=294054#p294054

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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Re: 04/28/2021 Market Recap

Postby Cobra » Wed Apr 28, 2021 4:57 pm

Both SPY and VIX were down on the same day for 2 days in a row, buy SPY at the close, HOLD until SPY and VIX moves in different direction, you have 56% chances to make money with profit factor 1.8 which is not perfect.
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Re: 04/28/2021 Market Recap

Postby JFR » Thu Apr 29, 2021 5:02 am

Which Dow stocks are trading in the middle of the night? That's a whole lotta green.


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