TVK/ USD, Inverse Head & Shoulders, Target + 100- 240%Nice Inverse head and shoulders setting up for TVK. Depending on entry, this trade is setting up for returns of + 105- 270% and just to target 1 it's around 1:3 Risk: Reward. A re-trace to 0.12 would give an excellent R:R at 1:9. If it hits target 2 the R:R is closer to 1:8 and as high as 1:22 if your entry is closer to the 0.12 mark.
Inverse Head & shoulders trade:
Entry: 0.12 - 0.14
Target 1: 0.267 (Neckline to form Right Shoulder)
Target 2: 0.445 (Length of head projected from neckline in confluence with the golden pocket fib zone)
Stop: 0.1006 (Below pivot low 0.707)
Never Trust. Verify.
D.Y.O.R . Not Financial Advice, this is my trading journal.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key . Capital preservation above all else.