Inverted Head and Shoulders (IHS) is a bullish reversal pattern characterized by three consecutive lows and two intermediate highs. Here's how it forms:
1. The first low (left shoulder) occurs.
2. The second low (the head) is lower than the first low.
3. The third low (right shoulder) is higher than the second low.
4. The neckline connects the...
Keeping it simple here - TVK is trading beautifully within this channel and has been consolidating for weeks now. Based on previous moves we know how hard and fast it moves so buckle up is all I'm going to say for now.
Please manage your risk - this chart is just my opinion. Be sure to arrive at your own conclusions and trade safe!
It's pretty self explanatory really..
My reasoning:
- clear EW counts
- strong prior volatility with volume
- near 45% correction from last high
- held 0.618
I'm targeting 0.65+ for this next wave.
Trade safe, manage your risk, take profits.
I'm no expert however in my opinion TVK is about to set off for new highs with a powerful wave 3 impulse. The timing lines up perfectly with other major coins and overall market cycle.
Always trade with caution and sensible risk management & remember to take profits along the way.
