stockmarketdaytrader

Price Action Is Looking To Break Out

Long
FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
4
We have an inverted head and shoulders on the 5 min chart, then we have another inverted head and shoulders on the 4 hour and the 1 hour! Price is at a resistance trend line, and a pivot R1! If price starts to break out of those levels, we should go with the price! We have a H&S on the 15 minute as well! A longer trend line is in place, once price starts to break it, that's a trigger to buy! This is a continuation pattern, price went up, and waited for macd to relax back to its zero line, and will now continue up!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.