LONG Platinum: TA for VIP member
Here's requested TA for one of our V.I.P members. We're don't trade this CFD so this is purley technicals on the fly. Plat is one where you have a falling wedge that could develop and a break above the upper trendline that could be of interest. For now its choppy and the risk is in the immediate future since we're still declining in the longtime time frame and that will continue to fall to the downsie (ownside break). Trade at your own risk!
In the example below, you can observe that on the lower boundary of the wedg,the peaks become slightly higher each time it comes down to the line. This has the effect of ensuring that none of the trades that are taken short in these regions can turn a profit. Similarly, on the upper boundary of the wedge , the same thing is happening with each of the peaks becoming progressively lower and trapping the higher level longs and pulling them
down.
There is no way of predicting which direction the price will ultimately breakout.This will be determined by the net volumes that occur. In other words, if there is a greater build-up of short positions over the long positions, then the wedge will break up.
01:14:44 (UTC)
Sat Jan 4, 2020
In the example below, you can observe that on the lower boundary of the wedg,the peaks become slightly higher each time it comes down to the line. This has the effect of ensuring that none of the trades that are taken short in these regions can turn a profit. Similarly, on the upper boundary of the wedge , the same thing is happening with each of the peaks becoming progressively lower and trapping the higher level longs and pulling them
down.
There is no way of predicting which direction the price will ultimately breakout.This will be determined by the net volumes that occur. In other words, if there is a greater build-up of short positions over the long positions, then the wedge will break up.
01:14:44 (UTC)
Sat Jan 4, 2020
Related publications
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.