Daily Log - August 1, 2025

Prices made one leg down during the overnight session, and after the open, we got the second leg down. After that, the market formed some kind of wider range, but with a bearish tilt to it. Inside this range, there were steep channels both up and down.

There was a lot of movement — at times pretty fast — but not many clean setups. Even though a few did show up, most were aggressive or hard to catch. One I really should have taken was a double trap setup.

I was looking for shorts all the way down during the strong downtrend. After a break of the channel, we got a nice second entry short (2ES). I tried to enter but didn’t get filled — and in hindsight, that was lucky since it got stopped out. The bar right after formed a great double trap, but since price had pulled back so far, I got scared and passed on it. I really should have entered on a limit order here, but yeah… easier said than done.

After that, the market just chopped around until the close. Not a great week overall, but next week we start over fresh.