Exit strategy

Here is a trade I took on USD/CHF this week.  You can see my entry circled at the top.    Looking at the chart now we can see we have entered a range for the last 24 hours.  So I have placed my stop loss just above  (marked with the box).   If price breaks out above this box, then my stop will be triggered,  if it breaks below then we will continue to let this run with a trailing stop.