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05/17/2021 Market Recap

05/17/2021 Market Recap

Postby Cobra » Mon May 17, 2021 4:17 pm

One down day doesn't mean anything no to mention it's a doji, which means indecision. I think it might mean continuation, i.e. tomorrow bulls might try again.

spy.png


In case you recognize the Bearish Harami pattern today - it doesn't tell much, any random day the next day has 53% chances to close up anyway.

BearishHarami.png

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Re: 05/17/2021 Market Recap

Postby Cobra » Mon May 17, 2021 4:20 pm

1.png

Called the low was in wrong the first time, then called breakdown would be sharp wrong. I mean in a range day, better watch because no movements can be trusted.
viewtopic.php?f=2&t=4600&p=294625#p294625
viewtopic.php?f=2&t=4600&p=294632#p294632

Called the low was in right the 2nd time.
viewtopic.php?f=2&t=4600&p=294638#p294638

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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Re: 05/17/2021 Market Recap

Postby JFR » Mon May 17, 2021 7:20 pm

SPY 15. Calm. Then chop, treading water furiously. Then calm. Bears not making a big move, with the bulls somewhat on the ropes.


2021-05-17_16-15-55.png
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