Camarilla forex factory
For example, if you risk is 10 pips, your profit target is 16 or 20 pips respectively. That means once the engulfing candle finishes and a new one begins we enter the trade. There is no relevance to the close of a 1, 5 or 15-minute candle.
Therefore, we are watching for these signals in real-time, and as soon as we see an engulfing pattern with the proper setup we trade it, without letting the bar complete. Therefore, stock traders may opt to let daily bars complete.