Here's what I mean by this, The first buy point at 1.31920 and second at 1.31314 were my chosen long entry areas. I was willing to take risk between 65 pips of territory while keeping my stop fixed at 1.31. The risk reward was still close to 1.5 to 1 or 1.1 to one but thats fine, lately we have preferred higher accuracy trades. (the draw downs on CaD were ugly)
It may seem like I added to a loser 3x but thats not the case. Each blue arrow marks where I took a long position in the GBP, I was also very close to having my stop taken out. At the time I was floating a moderate sized loss but it was not bringing my average entry too far away from my stop.
Of course, I don't know how the exchange rate will react to news but it definately worked out in our favor and we closed near the resistance at 1.32617
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