17 November:

From 7-9 a.m. (New York Time) which is 7-9 p.m Singapore Time as shown on the graph;

Click to see a bigger picture:


















High Price line: 1.2681
Low Price line: 1.2622
Difference between High Price and Low Price
= 1.2681 - 1.2622
= 59 pips

Therefore,
Stop Loss = 59 pips
Take Profit = 59 pips

(Risk Reward Ratio = 1 : 1)


How the Trade Went

Price hits the high price between 12-1 a.m. New York Time. (12-1 p.m Singapore time)

Thus,

Entry = 1.2681
Stop Loss = 1.2622
Take Profit = 1.2740

Between 1 - 2 a.m. , Price hits my Take Profit.

Monday Result: 59 pips - 7 pip (Spread) = + 51 pips

Net = +51 pips

Profit: 51 x $0.25 = $13