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05/21/2021 Market Recap

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Cobra
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05/21/2021 Market Recap

Post by Cobra »

It's a dark cloud cover which favors bears a little bit.

Bulls are still unable to make 3 consecutive good looking bull bars, now let's see whether bears can still make 3 consecutive red (orange tinted area). Noticed the 2nd 3 consecutive red down far less than the very first one so bears are getting weaker too.
DarkCloudCover.png
spy.png

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User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 05/21/2021 Market Recap

Post by Cobra »

1.png
Make a wrong higher low call again, used to be very easy so bulls are weaker than before now.
viewtopic.php?f=2&t=4608&p=294779#p294779 (I could sense a strong rebound starting here, good)
viewtopic.php?f=2&t=4608&p=294781#p294781 (Called the low was in right, also reminded a possible higher low revisit)
viewtopic.php?f=2&t=4608&p=294785#p294785 (Confirmed higher low revisit and called rebound right)
viewtopic.php?f=2&t=4608&p=294786#p294786 (Confirmed the higher low which eventually turned out to be wrong though)

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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