Here is my entry chart for this long trade on GBP/CHF. It was based on the False breakout strategy as taught by Tom Dante. A strategy I'm still learning, so I only risked around 0.25% on this trade, but I was aiming for a profit of around 0.75% or three times my risk. Click chart to enlarge.
And here is the exit chart. The reason I took profit early was due to a bearish pinbar on the H1 timeframe which scared me. The pin failed of course and price went up to hit my original target. As a result, I only made a profit of 0.25% whereas had I kept my nerve it would've been 0.75%. Instead of making 3:1 RR I only made 1:1 RR. The lesson here is to leave the trade alone until you see something either on the same timeframe or higher. It's not the first time I've made this mistake either, I've actually made it a bunch of times, but it just shows how much psychology plays a part in trading.
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