stockmarketdaytrader

Might Be A Break Out

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FOREXCOM:GBPJPY   ポンド/円
4
We have a inverted head and shoulder forming another head and shoulder inside the bigger H&S right shoulder! We have a longer neck line in place, if price action starts to break those Trend/necklines, that's a good opportunity to buy! Railway track on the 4 hour chart, forming on the pivot level and boosting up right afterwards, confirming the railway tracks to be valid! We have a longer trend line on the 4 hour chart, and looks like price action broke through it, then came back down to retest it, found resistance there, and started to move higher! On the daily chart we see that price action bounce right of a resistance level and headed higher. Even the weekly chart has formed a spinning top right on the resistance line. Bottom line, if price starts to break through the neckline and trend lines, very good chance to buy! Only buy on the break, do not buy until the break has occurred!

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