Daily Log - July 10, 2025

The pre-market action showed two legs up followed by a single leg down, hinting at the possibility of another leg down and a developing trading range structure. However, after forming a range with bullish imbalance, price broke out above the overnight high and extended even further, forming a second large leg up. As we reached the measured move target of that two-legged move, a spike and channel structure started to form.

This is where the first solid setup of the day appeared: a Second Entry Long (2EL) and Failed Second Entry Short (F2ES) forming right at the 21 EMA and along a potential spike-and-channel trendline. But since we had just hit the measured move target and the spike and channel wasn’t fully confirmed yet, I chose to stay out. In hindsight, that might have been the trade of the day. Still, I’m not frustrated—I made a decision based on the context, and this is often where 2ELs fail anyway.

After the two legs up, price continued creeping higher. It was hard to define a clear bigger channel, but the market kept grinding upward. These slow, grinding uptrends are the hardest structures for me to trade—price floats far above the EMA, doesn’t offer clean pullbacks, and every first entry with a decent signal bar seems to keep pushing the trend higher.

It really tests the FOMO muscle, but I managed to stay out of trouble. That said, I know I need to become more confident and a bit more aggressive in trends like this when context is clearly bullish.