I will be buying once price breaks the level indicated on the chart.
If price doesn't break this level, then I will wait for a buy signal further down as long as price holds above the lower trend line. If this trend line doesn't hold, then we can call the daily bullish engulfing candle invalid and we will start to look for sell signals below the lower trend line. If price actually managed to break on down and break the low of the head, then 100% start looking for sell IB's.