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05/11/2021 Market Recap

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Cobra
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05/11/2021 Market Recap

Post by Cobra »

Volume surge plus a hollow red bar which means close > open, an intraday reversal so a reversal like bar therefore maybe a rebound tomorrow? It's not a good bear follow through today so still no clear direction.
spy.png

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Cobra
Site Admin
Posts: 58335
Joined: Sat Feb 12, 2011 10:29 pm

Re: 05/11/2021 Market Recap

Post by Cobra »

5.png
Called range day right. Didn't fall for the morning sell off.
viewtopic.php?f=2&t=4591&p=294416#p294416
viewtopic.php?f=2&t=4591&p=294419#p294419

Bulls were not able to make a clear breakout though. In the past it's not a problem at all, so bulls were actually not strong today.
viewtopic.php?f=2&t=4591&p=294435#p294435
viewtopic.php?f=2&t=4591&p=294443#p294443

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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JFR
Posts: 10125
Joined: Sun Dec 02, 2012 7:24 pm

Re: 05/11/2021 Market Recap

Post by JFR »

Back at the keyboard.

ES 5. All is calm. Amazing. Scheiss flying everywhere in the world, and the market is calm. But action is always just around the corner.

2021-05-11_14-24-24.png
Charts posted are not recommendations. They are just a sharing of information.
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