Disliked{quote} I know you like the engulfing PA in the direction of a higher timeframe. Do you just mostly avoid the first touch of a higher time frame zone like that and wait for additional confirmation? Those countertrend trades are tough to take.Ignored
1) It gets taken out without any resistance
2) Bounce for a small amount of pips then continue down.
3) Turn out to be an all out reversal to the upside.
The chances of 1 and 2 happening are high enough to keep me from jumping straight in as a touch trade.
From looking at weekly / daily PA I would guess option 2 may happen. I'd prefer to wait and see if we get a bounce and then engulfing PA as an entry to continue south (just my view).
If it is a major reversal level then you can catch that with PA as well. We are on a weekly S/R line so who knows.