You'll have let your profits run if you'd bought at 1.60...
But you're right it may not work because no one has a crystal ball.
On my example, you would still be holding because the low was 2.53, so the stop wouldn't have been triggered.
As Mr Guppy says, plan your trade and trade your plan....
GXY Price at posting:
$2.64 Sentiment: Hold Disclosure: Held