If the Pair stays above 1.2775 Level, the continuation of an UP move is possible.
Use the area Below 1.2750 For Stop Losses,
1st Mid term Target is at 1.2950,
PNF is giving a 1.3425 Area as a target, which can be met within a few weeks in case of a USD strength continues.
I suggest to use a “timing” stop (Close if the price will not go in your direction within 3 bars (as an example), all depends on your trading strategy), Sometimes I prefer not to wait till my SL is hit.
P.S. Using a small stop losses in my strategy makes them triggered quite often, however, it saves my account from wide drawdowns, and keeps my RRR positive.
Use the area Below 1.2750 For Stop Losses,
1st Mid term Target is at 1.2950,
PNF is giving a 1.3425 Area as a target, which can be met within a few weeks in case of a USD strength continues.
I suggest to use a “timing” stop (Close if the price will not go in your direction within 3 bars (as an example), all depends on your trading strategy), Sometimes I prefer not to wait till my SL is hit.
P.S. Using a small stop losses in my strategy makes them triggered quite often, however, it saves my account from wide drawdowns, and keeps my RRR positive.