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06/16/2021 Market Recap

PostPosted: Wed Jun 16, 2021 4:33 pm
by Cobra
Don't know the volume surge today means a start of a pullback or the end of the 2 days pullback. Need see tomorrow. Generally it should mean a start of a pullback as volume surge on the 2nd down day no way means selling exhaustion. However, I don't recall that an initial down on volume surge had led to a huge down. So in short, I read it as a bad sign but it's just a warning, no big deal.


Re: 06/16/2021 Market Recap

PostPosted: Wed Jun 16, 2021 4:35 pm
by Cobra

FOMC day, no trading. Called the low was in wrong though. The rebound at that point looked strong.


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.