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07/20/2021 Market Recap

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Cobra
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07/20/2021 Market Recap

Post by Cobra »

So looks like it's still the same as the previous 2 times, tomorrow is the last chance to prove that this time is different, let's see. Technically, one big up day doesn't mean anything, we'll need see a strong follow through anyway.
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User avatar
Cobra
Site Admin
Posts: 58341
Joined: Sat Feb 12, 2011 10:29 pm

Re: 07/20/2021 Market Recap

Post by Cobra »

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Called uptrend day early enough the rest of the day was then easy. The weak close was expected I forgot to comment before it happened: Bulls had a surprise day so it's common to book some profits before the close.
viewtopic.php?f=2&t=4698&p=296186#p296186
viewtopic.php?f=2&t=4698&p=296187#p296187
viewtopic.php?f=2&t=4698&p=296189#p296189

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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