On the 4-hourly chart, USD/SGD is moving in an expanded range. A level of resistance is detected at 1.2441. A good short setup is spotted if prices bounce off the resistance and head downward.
We will go short when prices retrace to 1.2385. The stop loss is placed 5 pips above the previous high of 1.2441, and we will have 1 profit target on this trade.