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12/05/2023 Market Recap

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Cobra
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12/05/2023 Market Recap

Post by Cobra »

Bears finally got 2 consecutive down days but unfortunately both actually were bull bars (close > open) meaning the push down was not successful. Now let's see whether 2 hollow red bar (kind of reversal bars, just they work much better when at a bottom) can lead to a pullback. I suspect the market would be boring until the Friday.
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Cobra
Site Admin
Posts: 58093
Joined: Sat Feb 12, 2011 10:29 pm

Re: 12/05/2023 Market Recap

Post by Cobra »

2.png
A very boring day.

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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