The day started with a strong selloff. I did not find an entry before we got a bear flag on bar 12. I took it only on 1 contract since we were far from the EMA and the risk for a pullback was real. It hit 1R of the flag of +17.25 pts. pretty quick.

On bar 19 we got another bear flag and I took it. This was actually a mistake to take, as I know bar 18 is often a reversal bar, and we were late in the trend with three pushes down.

We got a strong pullback to the EMA, but I was really expecting a retest of the low and a bear continuation after that strong move down. But the market stalled for a long time at the EMA and I eventually had to close the trade for a loss.

Price did push above the EMA and formed a great bull breakout bar, so I entered long, thinking this would be a bear trap. That also ended up being the trap that I got caught in. I took it for +12 pts. on three contracts.

Turned out to be a good call. The market reversed back down after this and it formed a great bear breakout bar below the EMA, so it really looked like we could get another V-shape reversal. But price hesitated and pulled back to the EMA. Really a wild day with big moves.
After this price just grinded higher along the EMA. I was not really eager to buy since I was leaning much more toward price testing the low of the steep bear leg we had in the morning.

The bulls’ slow grind developed into a small trading range which was untradeable, so I ended my session.