{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpcad-engulfing-bar\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpcad-engulfing-bar\/","headline":"GBPCAD Engulfing Bar","name":"GBPCAD Engulfing Bar","description":"Overnight the GBPCAD fired off a massive Bearish Engulfing Bar (BEEB) on the 4hr chart. This BEEB was extremely large and as we know big candles equals big momentum. Once the low of the BEEB was broken, price smashed lower to break the recent support levels. The traders who entered this setup have now been […]","datePublished":"2012-10-18","dateModified":"2019-08-04","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2012\/10\/BEEB.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2012\/10\/BEEB.png","height":"275","width":"582"},"url":"https:\/\/forexschoolonline.com\/gbpcad-engulfing-bar\/","about":["Price Action Charts in Focus"],"wordCount":100,"articleBody":"Overnight the GBPCAD fired off a massive Bearish Engulfing Bar (BEEB) on the 4hr chart. This BEEB was extremely large and as we know big candles equals big momentum.Once the low of the BEEB was broken, price smashed lower to break the recent support levels. The traders who entered this setup have now been given a chance to take profit or at the\u00a0minimum\u00a0protect their capital.Price \u00a0is now sitting on support around 1.5780 as I write this, and we will see\u00a0during\u00a0the next daily session if this support will also break. GBPCAD 4HR CHART – 18 OCTOBER 2012 "}