stockmarketdaytrader

Break Out In The Works

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OANDA:NZDUSD   紐元 / 美元
We have price action wanting to go higher and there is support for this move! I can see an inverted head and shoulders has formed, we are waiting for price action to breach the neckline, when it does, that means price action has broken other forms of support, which is the pivot point level, a trend line, and a previous resistance area which has now become support. On the 30 minute chart we have the formation of a candlestick Doji. As soon as price action formed the Doji, it started to head up from that point! In all actuality we already had the formation of the inverted head and shoulders, and price action broke the neckline already. Price action is just waiting to get some boost for the impending move! I can see railway tracks have formed on the hourly chart right at the pivot point level! The 4 hour chart shows another inverted head and shoulders, looks like price retraced back down, and will probably look to go much higher now! Big trend line break on the 4 hour chart, price action came back down to retest the trend line, but it stooped short of reaching the trend line, and started to head up, supported by the pivot point level!

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