Weekly - 1:2 RRR LONG for 270+ pips TP 1

I am looking to buy/long in this market. Could there be a weekly bullish engulfing forming candle right here? Stops just below the week's low and target on the Bull setup on TP 1 could give me a 1:2 RRR if enterting now. Risking 10% for a possible 20% return on a single trade. This could take a while. Or i could wait for a setup on the lower timeframe to enter long depends on market and price action. Trade at your own risk. I could use this as well as my directional bias. Check the RSI as well.