There is a narrowing triangle chart pattern forming.
Short entry following a bearish price action reversal on the H1 timeframe immediately upon the next touch of the descending trend line shown within the price chart below, or $1.0824.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 50 pips in profit and leave the remainder of the position to ride.Long entry following a bullish price action reversal on the H1 timeframe immediately upon the next touch of $1.0711, $1.0631, or $1.0600.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 ride. The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a
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