The Risk:Reward setup would be to enter long from around 1.12, with invalidation of the move if price breaks down to 1.1035, long-term Fib . Profit targets would be just below 1.16. This would give me about a 1:2 risk/reward ratio, the minimum that I look for on any trade.
My standard money management process is to wait for at least the 1:2 target to be hit, take 90% of the position off, move my stop to breakeven, and then let the trade ride to the next major . Then keep trailing the stop below each successive . I will let the market take me out of the full position at maximum profit.