A general trend is determined by using fundamental analysis, analyzing the performance of economies of various countries and speeches by politicians, which may change the expectations in regard to monetary policy. I track government bonds yields in order to understand changes in risk sentiment of market participants. I find entry and exit points for a trade by applying technical analysis, and evaluating the price performance in a channel, and strong levels.
Actively use stop loss, place it no more than 35 pips from the entry point. I place take profit about 100-150 pips from the entry point.