The day started with an overnight gap to the downside, but the bulls looked strong right from the open. That strength made it less likely that the gap would get filled.

Prices bounced off the Globex high a couple of times and then flushed down, which was a good sign that we might be setting up for a trading range day.

The bears then broke the previous low and managed to push down far enough to close the ON gap. After that, prices moved back up into the breakout area and the 20 EMA, and then reversed back down again. For a long time it looked like a trading range, but there was clear bearish pressure, and the bears managed to get three legs down.

When we finally got a wedge bottom and the bears started to lose steam, I took a chance on a LL MTR, forming a LL double bottom, after a strong bull bar closing above the EMA. The trade didn’t get good follow-through, so I exited at breakeven.

Prices then dropped back down, testing the previous lows and forming another lower trading range. When prices stalled in the lower part of that range and we got two bear legs down into the lows, price printed a nice bull reversal bar as an FBO. That first bar was a bit too early for me to buy, but when we then got another big bull bar, I entered long.

I took the trade with 3 contracts. I took 2 contracts off at +10 pts, and I tried to hold the last one for +15 pts at the top of the range. Prices stalled before getting there, so I took the last contract off at +12 pts.

After that, prices broke out from the top of the range and we got what looked like a bull flag / BOPB. It was a bit far from the breakout area and the EMA, and price was already getting sideways with resistance forming. Not a great trade. It pulled back, and I didn’t notice how late it was, so I had to take the trade off for -8 pts.