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05/13/2021 Market Recap

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Cobra
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05/13/2021 Market Recap

Post by Cobra »

A strong bull follow through is wanted tomorrow which if indeed then probably bears are over AGAIN. For now maintain that the yesterday's conclusion that at least the bar wasn't a typical bottom bar.
spy.png

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Cobra
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Posts: 58344
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Re: 05/13/2021 Market Recap

Post by Cobra »

2.png
My usual way of confirming an uptrend day didn't work: The market made a false breakout. There's a safer way but much later.
viewtopic.php?f=2&t=4595&p=294527#p294527

Good, I paid attention to the lower high. Didn't see the rebound thereafter could go all the way to the day high though.
viewtopic.php?f=2&t=4595&p=294545#p294545

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.
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JFR
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Joined: Sun Dec 02, 2012 7:24 pm

Re: 05/13/2021 Market Recap

Post by JFR »

SPY 15. Up 4.87 for the day. Trading range for 9 hours. Very quiet after hours. Let's see what Friday brings.

2021-05-13_16-27-53.png
Charts posted are not recommendations. They are just a sharing of information.
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