Dislikedperhaps stating the obvious, but here's my 2 cents...
I think engulf bar is a bit overrated. There is almost always a retrace on the next candle just like most other candlestick patterns. Some weird ones also end up in complete 180 degree reversals!
To me, it makes more sense to always watch and wait for retrace instead of opening a probe right upon candle close.
Some core facts that applies to any chart/instrument:
- Open any chart and you will see more wicks all over the place compared to full body bars, inside bars, engulf bar,...Ignored
Short & Sweet
-happyTrading, maaj-