In this educational Forex Price Action video Johnathon shows a live trade placed on the EURAUD. The Price Action signal in this video was a Bearish Engulfing Bar that formed at a key area within the trend.
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I’m slightly confused..at 1.20 approx u say this lovely bearish engulfing bar,but that candle is not englufing the previous candle?
Hello Hugh,
the candle you refer to is a bearish engulfing bar. Please refer to: https://www.forexschoolonline.com//bullish-and-bearish-engulfing-bars-introduction-html/
You may be getting confused with the bodies of the candles, but for the engulfing bar to be an engulfing bar it must fully or completely engulf at least the previous candle including the wicks and body or in other words it must have a higher high and lower low than the previous candle and also preferably close in the last 1/3 of the desired direction of the trade to show that the momentum has been snapped and changed.
Any other questions let me know,
Johnathon