Not perfect for setting stop loss and taking profit. Because the forex market is always changing and we will only make SL and TP base based on our experience to trade. It would be better if you can learn about PA to set up SL and TP. and expert traders usually set stop losses and take profits according to their trading style and profit targets. It depends on the ratio they trade and the account. My trade is in 3: 1 ratio so if I trade for a profit of 60 pips then I set a stop loss at 20 pips.