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11/22/2021 Market Recap

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Cobra
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11/22/2021 Market Recap

Post by Cobra »

Breakout failed which is very common on the very first breakout attempt so cannot say the chart is bearish yet unless we have a strong bear follow through tomorrow. The volume surge on the 2nd down day is a bad sign though but still I need see a strong bear follow through. The Thanksgiving week pattern is Monday and perhaps Tuesday weak, Wednesday and Friday strong, the next week weak, so a failed breakout today so far fits the Thanksgiving week pattern.
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Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 11/22/2021 Market Recap

Post by Cobra »

1.png
Not all consolidation after an up swing make a breakout, today was one example.
viewtopic.php?f=2&t=4902&p=299238#p299238

Failed twice calling the pullback would be bought.
viewtopic.php?f=2&t=4902&p=299239#p299239
viewtopic.php?f=2&t=4902&p=299252#p299252

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The trading log above is meant for myself only which main purpose is to help improving my market sense.
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