My attempted reversal trade in the usd/cad has gone against me and is nearing my stop. On any close below 1.2625 I will be out of this position. I was confident that the rate of change move and the big bounce early in the week had the makings of a larger trade to the upside but so far now luck. Part of me wants to reverse from long to short on the breakdown but I have learned that sometimes its best to just take a loss and wait for a proper setup instead of trying to revenge trade