Forex...a new beginning

Let's start with Euro/USD, reviewing price action. We look at the weekly chart that starts on August 11^th ending at September 15^th, a period of one month. We compare this one month to a daily chart starting at September 7^th also ending on September 15^th. Both time periods are in an uptrend. We bet this currency pair will continue the uptrend on the daily chart. We hope to place an order for 1 lot at 1.3170 with a stop order and a take profit order at 1.3270, a 100 pip gain. We'd like to have a risk reward ratio of at least two to one so we will risk losing 50 pips to gain 100 pips. Our stop loss order will be at 1.3120.