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07/19/2021 Market Recap

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Cobra
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07/19/2021 Market Recap

Post by Cobra »

Volume surge plus long lower shadow, the chart looks like a rebound is due tomorrow.

Pay attention I said "rebound", I didn't say "the low was in". That said, if this is still the past then the low was in today (see the previous 2 cases with similar volume surge). So tomorrow is kind of a key day: Huge up, then once again bears are over. Huge down, then the 3rd time is indeed a charm, bears can finally be happy for a little while.
3rdTimeCharm.png

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User avatar
Cobra
Site Admin
Posts: 58333
Joined: Sat Feb 12, 2011 10:29 pm

Re: 07/19/2021 Market Recap

Post by Cobra »

7.png
A perfect breakdown pattern but bears failed to deliver. Once again a down from open to close day has been rare, a sharp rebound before the close can always be expected.
viewtopic.php?f=2&t=4696&p=296139#p296139
viewtopic.php?f=2&t=4696&p=296160#p296160
viewtopic.php?f=2&t=4696&p=296167#p296167

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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