PLATINUM - Long at channel support

FX:XPTUSD   Platinum / U.S. Dollar
86 3 0
Enter long at 1457 at the support line of the bullish trend channel with stop-loss at 1427 and take profit at 1540 which offers a 2.8 R/R ratio. The S/T rising trendline coincides with the 0.50 fibo resistance level of the last wave and close to the 0.382 fibo level of the upleg from the major low at 1385.8.
...and yes, the more conservative stop level below the interim low @1419.8 would have been the better choice.
The 0.618 fibo level of the upmove from the 1385.8 low. You could use a wider stop (below the interim low) but IMHO if the price gets to that level you'll be better off looking for a second entry because the market is likely to test the 1400 again.
What is the reasoning for placing the stop at that level?
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