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Some traders will be wrong and more probable they didnt think the EURUSD US session (in terms of markets for long, you are going to see that the price moves back down for multiple times at Fibonacci 50 and 61,8 level… 50 and 61,8 Fibonacci levels are considered as rebound points (Supports and resistances) where the price probably could reverse its direction… If you decide to buy a currency pair in an upward trend then set the stop loss just below the 61,8 Fibonacci level… You can use also the moving average indicator… The best one is 200 MA that allow you to find the best place to set your stop loss (look at the image).
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