{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/large-bearish-engulfing-bar-printed-gold-v-euro-18th-feb-2015\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/large-bearish-engulfing-bar-printed-gold-v-euro-18th-feb-2015\/","headline":"Large Bearish Engulfing Bar Printed on Gold v Euro | 18th Feb 2015","name":"Large Bearish Engulfing Bar Printed on Gold v Euro | 18th Feb 2015","description":"Price has formed a large Bearish Engulfing Bar (BEEB) on the XAUEUR Daily chart or the Gold v Euro chart. This BEEB is large and commanding and\u00a0whilst it is not at a strong pull-back or place of value where we would like to see our reversal trigger signals, we can still use this price action […]","datePublished":"2015-02-18","dateModified":"2019-08-05","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\/2015\/02\/2beeb.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2015\/02\/2beeb.png","height":"584","width":"966"},"url":"https:\/\/forexschoolonline.com\/large-bearish-engulfing-bar-printed-gold-v-euro-18th-feb-2015\/","about":["Price Action Charts in Focus"],"wordCount":397,"articleBody":"Price has formed a large Bearish Engulfing Bar (BEEB) on the XAUEUR Daily chart or the Gold v Euro chart. This BEEB is large and commanding and\u00a0whilst it is not at a strong pull-back or place of value where we would like to see our reversal trigger signals, we can still use this price action information to read the chart and give us potential clues as to what price is looking to do next.You will see that this Bearish Engulfing Bar is engulfing the previous two candles and that price closed strongly with the close being in the very last bottom 1\/3 of the candle. Where price closes on engulfing bars is super important and can often be the difference of whether a setup is able to be traded of not.For example; if a bearish engulfing bar has all the textbook makings for a high probability setup i,e it is up at a swing high, rejecting a major daily resistance,\u00a0has lots of room to move into and is also a nice large bearish engulfing bar, it would be important where price closes. If this bearish engulfing bar closes in the top 1\/3 of the candle, rather than the bottom 1\/3 of the candle, then it would make it an unplayable setup simply because of how price closed. In this scenario price would have showed us that it closed very strongly with the bulls in control when we were looking to take a bearish setup and go short and for price to move lower.Now that price has printed off a BEEB in this market there appears to be two levels to keep an eye on. The first is the retrace level I have marked on the 4 hour chart below;\u00a0If price can move into this level back higher, then this could be a really solid level to look for short trades on intraday charts such as the 4 hour or even 1 hour time frames.The other level is the\u00a01043.25 and this is the next major daily support. If price can break the low of the BEEB and gain some momentum, then it may be able to move into this next daily support area where you should keep an eye on it. Gold v Euro Daily Chart Gold v Euro 4 Hour Chart Related Forex Trading Education– How to\u00a0Make Money Forex Price Action Trading"}