No, I am out. I am largely a technical trader, and I tend to prefer a clear trend, preferably on a higher TF. If you look at the Daily chart for the past six months it doesn’t at a glance look great for my style of trading, and that is generally a pretty good indicator for me of whether I will find decent setups.
At the time I took this trade, you could have said that the Daily chart was cycling up - there was a low on 8th August (which in itself was a retest of a pretty good level from March 2017 and again in 2016), where we got a good rejection. Then Price cycled up, hit a peak on 28th August, then cycled down, hit a low (albeit not particularly conclusive one) in early September, then gave us another high on 24th September, which was also an engulfing bar. That cluster of Resistance bars from around 20th-26th September are also right on the 200ema, plus this is in itself a decent level (look at Price on 9th July and around the same time in June). So I was happy that there would some sort of retracement. However, in the other column - the ‘reasons not to trade this’ column - the EMA’s were pretty flat, as I have said previously we were in a short (but assertive) uptrend, and also RSI was not overbought. So I was mindful that Price might simply retrace back down, then hit the next natural higher low and revert to its upward trajectory. Also, the 50ema was sitting around the zone I would expect that to happen, plus I have 1.1605 on my chart as a bit of a level. And, as you say, there are a few potentially nasty fundmentals out there at the moment on this Pair.
In that context, this could be seen as a countertrend trade. I set my targets on those more conservatively. So I had a 1:1 R:R, that Price was hit, so my trade closed automatically for a 1% gain on my account. A few of those a month would be fine on its own, so I didn’t think (for the reasons I stated above) that this was one where I wanted to push my luck. Take the profit, be happy, roll on. The odd quick in and out is a natural partner to my slightly longer-term trades.
I hope that that gives you some insight to my thinking.