$TURBO inverse H&S potentially forming.

as long as the current correction stabilizes around .0044ish it would be forming a inverse head and shoulders which has a very high probability of a move up well past all time highs. RSI and Stochastic are also supportive of this potential.

Trade active

looks like right shoulder has formed at .0049.
if anything changes i will update here but i dont think we will have much considering the time of day.

Note

so far pattern is still valid and on course, these are opportunities to add to my bag.

Note

UPDATE JUNE 25th :

From what i can understand, the pattern is still valid however the right shoulder isn't confirmed as it seeks to retest 0.0051 in face of the sell pressure being exerted.
from what i see we have two potential scenerio's:
First:
a new attempt to reestablish a symmetrical right shoulder around .0044ish.
second:
the H&S pattern is invalidated with a down move to retest support at .0035.

please share you thoughts via the comments and please point out any errors in my understanding.

Note

UPDATE JUNE26th:

Looks like it just reached a symmetrical right shoulder(.004438) however the market trend is quiet aggressively red, 50/50 chance the formation gets voided as Turbo seeks .0035

Trade active

looks like a shoulder is indeed forming, what do you guys think? is this the last chance to buy in?

just opened my second trade.

Trade closed: stop reached

trade closed at a loss, pattern no longer validl.

Fr0man

"This is not financial or investment advice. It's a brainstorming session seeking input from other traders for academic purposes. Any decisions should be independently researched and considered."

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Fr0man

"This is not financial or investment advice. It's a brainstorming session seeking input from other traders for academic purposes. Any decisions should be independently researched and considered."