This is considered as Strength in background !!!
As I have told you earlier when after a strong fall market tend to accumulate inside a bracket an start reacting to hot spot areas As I Mentioned in the Chart and when It react to intermediate where buyers and sellers have huge stop to dealt with, They probably decide to stay out and market lacking liquidation and value shifts higher to find the liquidation and finally accepting higher prices.
Then there was liquidation break at the top a strong pin bar, When background is as solid as this one, then we always consider entering at strong momentum areas and result was strong engulfing with strong rewards.
It could result in exhaustion but we have to wait and see if momentum fades then it could possible result in an mature trend, but its too early too speak. I will try and update the chart if there is any changes is seen, to keep you all updated.
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