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Observed a bearish engulfing pattern with the prior trend being an uptrend and also the bearish engulfing formation is near the resistance.The stoploss is placed at the high of the pattern and the target is calculated with risk reward ratio as 1.The fibonacci retracement levels and the support align with the target and the RSI indicates that the upcoming trend is downtrend as it just now moved from 70 and is still moving down
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I see this engulfing is followed by the sideways (Last three candles). This could be the part of FLAG formation..
Thank you for your valuable feedback sir