The GBPUSD has formed a large and very obvious Bearish Engulfing Bar = BEEB on the 4 hour price action chart that is rejecting a major daily resistance area. If you are a regular reader of this blog and the daily commentaries you will know that we often discuss how the best trade setups are the ones …
Price Action Charts in Focus
EURGBP Forms 4 hour Chart Bullish Engulfing Bar Breakout | 14th Oct 2015
The EURGBP has broken out higher and above a major daily resistance level with a Bullish Engulfing Bar = BUEB on the 4 hour price action chart. The bullish engulfing bar is a huge and obvious candle that is commanding a lot of momentum and, as my 4 hour chart shows below, price close is well up and …
SGDJPY Fires Off Engulfing Bar at Major Daily Resistance Area | 15th Oct 2015
The SGDJPY has fired off a Bearish Engulfing Bar = BEEB at a major daily resistance level on the 12 hour price action chart. Whilst the trigger signal is always important for any trade that we assess, the level is an important one in this market. As you can see on my daily chart below, this level …
