Candlestick Set-up for uptrend. We're waiting for bullish engulfing pattern, V formation, or Hammer candlestick pattern for upward trend of candlestick. For the last 13 trading days the trend is on sideways. On the uptrend it needs to break the price range from 79.187 to 79.626 breakout.
Candlestick Set-up for downtrend. We're waiting for bearish engulfing, Inverse V formation, or Shooting Star candlestick pattern for downward trend of candlestick. For the last 13 days the trend is on sideways. On the downtrend it needs to break the price range from 78.363 to 77.993 breakdown.
Sideways Ranges. Price ranges from down to up and vise versa were 78.363 to 79.626 averaging to 1260 pips. If you will trade in ranging trend, please be careful, there's a tendency that trend may breakout or breakdown and you're capital will be wiped out! So it is important to always put Stop Loss and Take Profit.
Timeframe: D1
Indicators Used: Rectangle, Trend Lines (Triangle Wedge), and Fibonacci
Disclaimer: Trading currency and commodity futures are risky. Trade at your own risk.
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