NZDCAD mean reversion trade

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
I placed a buy limit this morning after price plunged in the Asian Session. From past experiences, this setups a pre condition to create a hammer for subsequent mean reversion trade. However, this time I am trying to even lower my long entry, complying to the axiom of " Buy Low Sell High" as best as I can.
I look for confluences of support, namely d1 line chart pivot , as well as the bottom of an ED channel,
which had already had 3 points formed up.
Once i see the bulls gain traction, only then a healthy problem arises: Should I shift to Break even, or TP when price touches the EMA resistance? Using this way, I hope i can improve my RRR             tremendously. Only drawback of now is how can I determine the SL for this type of limit entries?
looking back sometimes the channel drawn continues to be respected by the market. Price is still contained within.
overnight my position have been taken out via BE. A good TP level , if not beig ambitious, will be the cluster of multi days low to end the day with about 20 pips. @ 9230
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