creating excellence through the deliberate practice and analysis of
10,000 trades in this episode we are going to look at a bearish engulfing
trade setup a bearish engulfing trade setup is an easy to identify trade setup
it's a reversal pattern and we're looking for price to drop a once we see
this setup so let's go onto the charts and we'll take a look at how to identify
this trade setup we're to enter the trade where to place our stop loss and
as always how to exit the trade with a profit
here we are looking at a bearish engulfing trade setup this is euro yen
one-hour chart a bearish engulfing candle is one that takes over or engulfs
the previous price action so this is our parish engulfing candle this is a
bearish trade setup which means we're looking for price to move lower after
this point so generally will find this bearish engulfing candle at a support
and resistance level as we can see price has reacted at this level before and
once price gets into this level we get this bearish engulfing candle which
means there are no more buyers left and prices willing to move lower because the
sellers have stepped in right now so after we get this candle we look for a
bit of a pullback or you can take an entry at the close of this candle our
stop would go above this previous high just in case price decides to come and
test this level once again and we stay with the trade for as long as prices
moving lower here we see that price tries to push lower but then we have
price coming back and closing above our pivot point level here which is our s3
pivot point level and here we can also see that prices into the next support or
resistance area so this is a good time for us to close our trade out from entry
to exit here we get 90 pips in our trade so just to recap a bearish engulfing
trade setup is where we see a bearish engulfing candlestick formed at an
important support and resistance level we look for this candlestick once we see
the candlestick we look for price to move lower so we enter the trade short
here our stop would go above the previous highs here and we stay with the
trade for as long as prices moving lower once we see that price comes into the
next support and resistance level we get a bullish candle close here and price is
not able to hold below our s3 pivot level here we can exit the trade from
entry to exit we get 90 pips in our trade so our profit is 90 pips or $900
if trading one standard lot if you'd like to learn more profitable forex
trading strategies like this one I invite you to visit my course at
trading with Venus com forward slash Forex course in the course I will show
you how to read the candlesticks and different chart patterns will do a deep
dive into technical analysis and I will show you how to read the charts properly
what trade setups you are looking for and how do we trade these setups
properly I will also show you what are the important fundamental things that
you need to pay attention to how the different fundamental factors drive
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use that I have found to be the most profitable we'll also talk about trade
management and how to manage your account and manage your risk so that you
become a profitable trader I will also show you tons of examples that you can
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markets as well as a bonus you will get access to my pivot point indicator if
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points so you will receive that as a special bonus the price of the course is
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Venus com forward slash forex course thank you so much for joining me today
if you liked this episode please feel free to subscribe to the channel and
share it with your friends I'll be back with another great trade setup next time
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