and you should widen your sl a little bit.
10 pip sl may work during Tokyo..but nowadays fibre is getting more and more volatile. For me ..I put a minimum of 20-25 pip sl to give the pair a little breathing room.
However, sl has much importance, example - it need protections, if have faith in level you prepared to defend, accordingly it will be a level with supporting S&R TL's Fibs physc numbers, round numbers, monthly weekly daily Opens etc etc etc, the more that confuence the better,
Then enter trade as close to that level as possible, if position trade, build into the level, etc etc, enter with temp sl 50, incase lose connection, spike etc etc, then place sl with as much protection as possible, you should already know that there is enough room to earn pips, rr etc etc, example - defend sell 2995 fill 2990 temp sl 3040, next support 2925 possible 70pips, either wait until 2995 hold and reject, or allow slip to 3005 if that hold and reject once below 3000 or better 2995, bring sl to 3010, then you have all confuence of resistances at 2995 plus round number 3000 plus last high 3005
Trade is risk 20pip for 70pip tp is good ratio, everyone happy with different ratio
Sadly even best plan turn to crap, whip out, etc etc, is good to give your entry the best possible chance to survive, and earn pips, very important trust your level you wish to defend, and patient wait wait, sit on itchy finger, if not reach your level, many times is happen, so what, wait pa near your support & TP level, do everything again but for buy,
It is better to wish you had a postion that you wanted than wish you were out of a postion that you are in
If you are new to Forex? Say Goodbye to your account!!
