Back to www.cobrasmarketview.com

   

06/01/2021 Market Recap

06/01/2021 Market Recap

Postby Cobra » Tue Jun 01, 2021 5:15 pm

It's the 3rd bearish reversal bar (open high, new high but close in red). The previous 2, both were up the next day, just the up got weaker, so this 3rd time should be even weaker-er, the 3rd time's a charm?

spy.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 50385
Joined: Sat Feb 12, 2011 10:29 pm

Re: 06/01/2021 Market Recap

Postby Cobra » Tue Jun 01, 2021 5:24 pm

3.png

Called rebound would be sold twice, both were correct. Mentioned breakdown then sharp reversal and it was the case. All were from experiences. So good to watch the market everyday for many years.
viewtopic.php?f=2&t=4622&p=294954#p294954
viewtopic.php?f=2&t=4622&p=294957#p294957
viewtopic.php?f=2&t=4622&p=294969#p294969

The this bull shall have legs call was too bull biased. I don't blame myself because we'll have to be bull biased in order to make the most call rights. Only occasionally on a rare bear day the bull bias stops working, but again, it's been rare.
viewtopic.php?f=2&t=4622&p=294973#p294973

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.

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 50385
Joined: Sat Feb 12, 2011 10:29 pm


Return to Traders Lounge

Who is online

Users browsing this forum: No registered users and 10 guests