Anyone who has seen how professional traders trade know they often place their orders ahead of time and less often do market orders. A general theme that shows up is about 70+% of all institutional orders are placed at prices ahead of time, while <30% are market orders.
Now every institution...
The most practical and widely used way to trade these bars is to simply place a pending entry order a few pips above the high of a bullish engulfing bar and a few pips below the low of a bearish engulfing bar. The safest position for a stop loss is a few pips above the opposite end of the bar.
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