Trend continuation following period of retracement, large engulfing candle does not provide sufficient risk to reward ratio 1:3 hence open if price retraces to 50% of the engulfing candle. Take profit is 162% Fibonacci extension.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.