24 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: 1.2776
Low Price: 1.2659
Difference between High Price and Low Price
= 1.2776 - 1.2659
= 117 pips

Therefore,
Stop Loss = 117 pips
Take Profit = 117 pips

(Risk Reward Ratio = 1 : 1)


How the Trade Went

Price hits the high price from 10-11 a.m. New York Time. (10-11 p.m Singapore time)

Thus,

Entry = 1.2776
Stop Loss = 1.2659
Take Profit = 1.2893

Between 12 - 1 a.m. , Price hits my Take Profit.

Monday Result: 117 pips - 7 pip (Spread) = + 110 pips

Profit: 110 pips x $0.25 = $27.50