Daily Log - July 29, 2025

The day started once again with very little overnight price action. There was an uptrend continuing from yesterday and through the night. After the open, the market started forming a smaller range, which later expanded into a broader range.

Following a breakout below the Overnight Low (ONL), a weak downtrend began to develop. Eventually, that trend picked up momentum and turned into a stronger downtrend. Unfortunately, there weren’t many clean opportunities to join the ride.

After the break of the steeper downtrend channel, price made a two-legged measured move correction. I was still anticipating a new low in the downtrend, but the market really struggled to get there. Setups were few and far between — and the ones that did show up were, at best, very aggressive.

Eventually, price went into sail mode, just crawling along in a small range. I didn’t see much I liked. There was a potential second entry short (2ES) and multiple tests, but I didn’t like it at the time it formed and passed on it.

Later in the session, the market finally made the new low I had been expecting for hours — but again, there was no great way to get in. Just one of those slow, tricky days where setups never quite came together.