Price Action – Euro Daily Engulfing Bar Challenges Bulls | Apr. 4th

Building some bullish under pinning that I’ve been talking about in my FX market commentary, the pair launched higher on Mario Draghi’s ‘No Plan B’ comments, gaining over 130+ pips on the way. Both the daily and 4hr candles printed engulfing bars at the yearly lows showing the multi-time frame strength of this reversal.

This changes the dynamics of the price action short term, as its closed above the daily 20ema (marginally) for the first time since mid-Feb. I’ll still consider selling the pair around the channel top just under 1.3000 with tight stops above. Should this fail, then 1.3100 and 1.3150 are up next, while if this holds, then 1.2875 and 1.2750 will be under attack again.

engulfing bar reversal price action pattern euro 2ndskiesforex,com

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Bin

    I placed sell order at 1.2988. stop at 1.3034 and target at 1.2875. keep finger crossed and let it run.


    • Hello Bin – good luck on this one.

      Kind Regards,
      Chris Capre

  • saif

    hello chris i am going to join your price action cource soon. i wanted to know which broke do you use? i ask because my chart looks very different from the one you have?

    • Hello Saif,

      I use fxtrek intellicharts, but your broker charts dont have to look the same to trade successfully.

      Hope to be working with you soon.

      Kind Regards,
      Chris Capre

  • saif

    Hi again Chris, Thank you for replying me so quickly really appreciate it. I have another question and i will be glad if you could answer it. first i want to let you know that i have been trading the market for approx 3 years(from the age of 15) and still haven’t had success, Had a lot of great mentors , talked to a lot of traders and also a few hedge fund guys, have tried hundreds of indicators if not thousand and nothing seems to work for me. for the past 6 months i have been learning price action and had “Little success” I was thinking about taking the price action course but will it work on the 15 minute and 1 hour time frames as after going through your website have known that it is more geared towards h4 and daily but the problem is there are not a lot of setups on the “higher time frame”, as i don’t have a job and i am free all day and i want to make this my full-time profession, i wanted to know can i trade on the lower time frames ? also the systems in the price action course how long have you been trading it with great success ?
    Also I would like to thank you for opening this website to help struggling traders out there. I havelearned a lot and also had an argument with you on “quality over quantity” a few months ago (if you remember-lol) some how i feel that you are the best mentor out there and you will your teachings will be the path to my success. :)