Tuesday trade, long GBP/USD at GMT7:52 at 1.4465 with 60 pips profit target, however it was stopped at EP about an hour later. Though smaller time frame indicate possible reversal, the pair failed to move beyond the long term EMA suggesting that it is only a pullback. Managed the SL to EP in order to protect against any possible false signal. If the pair failed to move substantially in my direction within an hour after I have entered, possibly that it is a false signal or the trade could be caught in a side way trend. In either cases, it is better to take small losses or small wins or adjust SL to EP and ride it. I took the later option. Though there are many options available to you, sometimes it is hard to admit that you have made mistakes and accept the losses. And it take practice...
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