Platinum / USD Wyckoffian AccumulationPlatinum testing lows from the recession. I highly doubt it breaks those levels unless there's something special about the platinum market that I'm unaware of. It's showing signs of Wyckoffian Accumulation, so I'd look for it to go sideways for a couple of weeks. It's currently at the bottom of the TR (Trading Range) looking as if it's testing for any additional supply in the market. If it fails to supply demand, we should see a ST (Secondary Test) towards the top of the range to further define a zone of resistance.
Platinum
PLG hope or death...PLG hope or death. PLATINUM GROUP METAL shares have seen better days as well. But they are not the ones. The exchange rate has been in a decreasing trend for a long time. The time for a technical rebound is coming slowly. It is equally a question when the decreasing fractal wave structures and the increasing fractal wave structures are changed based on the same ATRs. But now it is time for a growing fractal wave motion. This is also confirmed by the fact that the exchange rate moves on the outside of the ATR axis (orange line). From here I'm waiting for a several-day upward movement. This 0A wave (first half of the green wave) is the target price of 0.6538. Then I look for the correction wavelength of the double fractal structure (Green AB), target price 0.2846. Then there is a rising wave structure.
XPTUSD Long Trade SetupHello, traders.
I'm expecting very nice up move in platinum. You can see my higher degree expectation in the followed chart, but it is almost impossible to explain by drawing because there are a lot of options. So, if you want to see detailed analysis, please watch today's analysis video on Youtube.
The last down move has 5 waves already and the 5th wave looks like a reversal pattern. That's why I have put an entry order as you can see. The stop-loss is not certain. If the price goes deeper levels I will rearrange the entry price, stop-loss and lot size according to new bottoms.
Platinum - Bullish BatWhat's up guys, here's a setup I've been looking at for a while. I'm not a position trader- I don't like to hold trades for any longer than a couple of weeks max. That aside, I have saw this pattern coming for almost 2 months since the B level was broken (one could have BAMM'd it!)
Here we have a bullish bat formation on platinum. The support level where the pattern falls has not been broken since 2016, and even that was brief. Since the chart in front of us began back in 2006 price has not been below the current support level for any longer than one month. For a precious metal of which there is less than one swimming pool on earth, price seems to be pretty low. This my prove to be a reasonable level for anyone looking to hold platinum long term.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
PLG short squeeze with 4 times gain...PLG short squeeze with 4 times gain. The last drop of the exchange rate is visible. The wave structure could end at 0.1877 levels. From this level a so-called "SHORT SQUEEZE" is expected. The snort sqeeze wave can be a dual wave motion. The 0A wave is the first, with a target price of 0.3692. Then I expect a correction wave. The AB correction wave is a half wave structure. Then it follows again the first 0A wave structure. The second emerging wave is the BC wave structure with a target price of 0.4775
XPTUSD Long idea after correction completesAnalysis:
I've seen XPTUSD show a Impulsive move, and then correctively retrace towards the origin of the impulse.
it has a little further to go hit the reversal zone indicated at the dashed orange lines.
Hypothesis:
I am looking for latent buy orders to kick in at the levels identified.
Price should trade up to resistance where I have indicated by the blue arrow
Risk Management:
Trade potential 4:1 +
Take off half at 1:1, and move stops to Break even. Let rest ride to Target.
If you are concerned going long against short term bearish momentum.. you can wait for a 1D bullish candle before entry.
PS: If my analysis is to your liking... please like the post & subscribe. Thanks.
PLATINUM - Short PlayPlatinum falls sharply and will continue to fall while it looks for some support for a short term rebound which I (assume) could go to 945. However, if support at current level is not found than we are looking for another major fall towards previous lows and potentially even lower toward 885/80 Support area before it starts to rebound.
Platinum trade idea, for the trade war ($XPT)The idea is that platinum would move between the two-blue line (these are recent daily support and resistance lines). It looks like Platinum founds its bottom and is ready to move up, to the price level of 1020 (which might be a recent resistance line of the weekly) , even do the RSI has not yet curved up it is clearly oversold on the daily.
But last Friday candle shows a bullish sign.
When the situation comes that coming week, the price will fall, there is are strong resistance zone between 893.7 (the weekly support line) and 901,37 (the daily support line). (If this break, it hits my stop loss).
I assume, because of the coming trade war, commodities like gold and platinum will be a save heaven for investors.
My targets are:
1: 1020
2: 1092
3: 1159
Stop loss, below the 890
****This is not an investment advice, this is just a random thought and want to test my own hypothesis of the coming trade war, feel free to comment and join this trade, but remember never invest more than you can lose*****
Platinum is weakI could see a good trading opportunity in selling some Platinum today. Large spec were buying a lot and it seems today that bull period is over (for some time) and they would liquidate their longs.
Price has broken 2 important trend lines and came back a little, giving us the last chance for selling. I opened short position with target on 50 MA. If you have enough capital supply you could also consider lower targets, I mark them with flags. If 2017 trend line will be broken again form the bottom, I exit my position. However, in a good case I'll use trailing to insure my profits.
Platinum shortwe see price is near a confirmed resistance area where it shows strong reaction to the downside before
-we also see a rising Trendline (very steep)
-also 2 pretty nice supply zones (the 2 highs to the left)
I look for a short entry in case of a strong bearish candle which breaks n close through the rising trendline
Alternative a long entry is justified after a break of the resistance to the upside .
#Palladium spread over #Platinum will continue to increaseReuters had an article last month about palladium and platinum www.reuters.com
I think the spread will continue to increase in favor of palladium. there are fundamental reasons (higher demand for palladium, higher autocatalyst recycling) and TA shows further appreciation of palladium.