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04/30/2021 Market Recap

04/30/2021 Market Recap

Postby Cobra » Fri Apr 30, 2021 5:08 pm

Another doji, so no direction, let's see whether the coming Monday would give us any clue. Usually the very first trading day of a month is very very bullish especially during the QE phase. However, it's another doji with volume surge so could mean the distribution continues therefore should be bearish the next Monday? Not sure, let's see. For now I'd rather believe the very first trading day of a month is bullish.

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Re: 04/30/2021 Market Recap

Postby Cobra » Fri Apr 30, 2021 5:19 pm

5.png

Basically called the low was in twice today although with question mark, neither were correct. So there's no magic seeing double bottom, it all depends on the market trend!
viewtopic.php?f=2&t=4575&p=294105#p294105
viewtopic.php?f=2&t=4575&p=294123#p294123

This was a very experienced call (The if condition I mean): Simply most initial breakout cannot be trusted no matter up or down.
viewtopic.php?f=2&t=4575&p=294108#p294108

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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