DAX opened with another bearish gap, pressing the channel support of the 1h regression channel
Bar1: entered long for a continuation trade on a bullish trend bar following a 3-bar consolidation.
Bar2: full position stopped at trailing stop with 7.50 pts loss and I reversed the position on the same bar selling short. Trapped out and trapped in. Big mistake. It was a failed break of the micro trendline. Bar3: short stopped with 10.60 pts loss.
Bar4: short entry at trendline resistance.
Bar5: stopped with 12.50 pts loss.
Doesn’t look good so far. Both my short entries were micro trendline failed breakouts. Bar6: short entry on lower high
Bar7: stop with 11.70pts loss
Bar8: H2 short entry
Bar9: stopped out 11.20 pts loss
Dreadful day. I was clearly on the wrong side of the market. Average loss was 10.59 pts without a single winning trade.