Daily Log - July 8, 2025

Today, price spent nearly the entire session inside the Overnight High (ONH) and Overnight Low (ONL), forming a wide range. However, this range didn’t have well-defined support or resistance levels, making it difficult to pinpoint where the highs and lows were exactly. To add to the challenge, many of the smaller channels within the range ended in overshoots, which made it even harder to judge when a trend had completed and when a setup was valid.

That said, the price action itself was fairly predictable in structure—most channels eventually got new extremes. There were a few setups throughout the day, but nothing that really stood out. On a few occasions, context was very clear, but unfortunately, no solid setups formed in those moments.

🎯 Finally, I got a trade!

I took this Failed Second Entry Long (F2EL). Price had made two nearly measured legs up toward the top of the range and then stalled, forming a small consolidation. We got a breakout pullback from that congestion, and at the same time, a F2EL reversal pattern formed just below the 21 EMA. I decided to take the shot.

The signal bar closed low and formed right around the midline of the range, which wasn’t ideal. But at some point, you have to pull the trigger. I think the setup had enough going for it and was worth the risk.