In hindsight it would have been more profitable for me to let my 50 pip TSL order to play itself out today, but I decided to get out around the 1.3050 level because I knew that there was a decent amount of traffic up ahead. Meaning the previous highs and lows of 2008 and 2009 as seen on weekly chart. Also I saw a minor little pin on the hourly chart which made me think that we might get some retracement at that level. Also I was thinking to myself..."I have made enough from this trade to get back all of my losses from the previous trade and I am up a few percent on top of that... if i take profit now it is guaranteed. Also that big round number of 1.3000 could get a psychological bounce from the market." Although the market cut through the 1.3000 level like a knife I am happy with my decision. Normally i think I would have been correct but the news is so powerful in this market i think the technicals only have so much power right now.
"Luck favors the prepared mind"