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06/11/2021 Market Recap

06/11/2021 Market Recap

Postby Cobra » Fri Jun 11, 2021 4:50 pm

The breakout held well so far (didn't you notice that it tested the blue line intraday which is the breakout point, then reversed up? It's a good sign saying that people do recognize the breakout point), the problem is it's still not far above the breakout point so still cannot say the breakout is for real yet so the battle continues into the next week. One thing for sure good for bulls: As long as bulls can consolidate above the breakout point (the past two days can be seen as a consolidation above the breakout point), then the breakout would get more solid each day so once again time is not with bears.

spy.png

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Re: 06/11/2021 Market Recap

Postby Cobra » Fri Jun 11, 2021 4:54 pm

4.png

Nothing interesting, I was right again about not to trust any initial breakout.
viewtopic.php?f=2&t=4640&p=295241#p295241 (I even predicted the breakdown would be a false one)
viewtopic.php?f=2&t=4640&p=295245#p295245

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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