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05/11/2021 Market Recap

PostPosted: Tue May 11, 2021 5:09 pm
by Cobra
Volume surge plus a hollow red bar which means close > open, an intraday reversal so a reversal like bar therefore maybe a rebound tomorrow? It's not a good bear follow through today so still no clear direction.


Re: 05/11/2021 Market Recap

PostPosted: Tue May 11, 2021 5:12 pm
by Cobra

Called range day right. Didn't fall for the morning sell off.

Bulls were not able to make a clear breakout though. In the past it's not a problem at all, so bulls were actually not strong today.


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.

Re: 05/11/2021 Market Recap

PostPosted: Tue May 11, 2021 5:29 pm
by JFR
Back at the keyboard.

ES 5. All is calm. Amazing. Scheiss flying everywhere in the world, and the market is calm. But action is always just around the corner.