EUR/USD Forex Signal – 19 April 2018

EUR/USD Signals:

Short Trade

• Short entry well be stronger if the pair moved below 1.2330 on the daily chart.

• Place the stop loss 1 pip above the local swing high.

• Adjust the stop loss to break even once the trade is 50 pips in profit.

• Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run.

Long Trades

• Long entry following a bearish price action reversal on the H4 time frame immediately upon the next touch of 1.2395 or 1.2353.

• Place the stop loss 1 pip below the local swing low.

• Adjust the stop loss to break even once the trade is 20 pips in profit.

• Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run.

The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.