TREND ENGULF - EURUSD short trade EXITED

I exited the trade for a small loss of about 10 pips, a little less than one-sixth of what I had risked on this trade.
I made the early exit before the stop was hit for a number of reasons:

1. I did not like the pin bar and spinning bottom 1 hour bars that immediately followed the trade.
2. The trade went in my favour just a little below 1.28 then bounced back off that number extremely quickly. The area below 1.28 is a strong demand zone for EUR and I was concerned about how the price would react down there.
3. Bernanke is beginning to speak.
4. Friday London close is coming up and the market can often do weird and wild things around this time as the big banks and hedge funds shuffle their books at the end of the week, while liquidity drops.
5. A human factor - the worry of holding a trade over the weekend and being trapped for 48 hours.
6. The trade was not an A+ trade due to the fact the bar was very long, about 65 pips. If the bar had been 30 or so pips I would have been happier to hold the trade despite all of the above.

I do think the price is quite likely to hit 1.28 again today, but once you decide a trade is really unappealing it is best to exit straight away.

There is a good argument to be made for not exiting a trade with a loss until the stop is hit. I think a trader has to be sure he is exiting for a good reason, not just because he or she does not like the tension.