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
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.
Platinum. Retestthere is a probability of a decline after the retest of the level of 900.
but it is necessary to take into account that the seasonal trend in January is up (80-90% probability of growth)
Long Platinum @ 883.9; TP @ 905.93, SL your choiceLong Platinum @ 883.9; TP @ 905.93, SL your choice
Platinum's downtrend to continue?Descending triangle is more of a continuation pattern.
It looks like Platinum is about to break to the downside.
Not confirmed yet.
Wait and see in the next few weeks.
Stable Long Term Correlation Between Platinum, Gold and T-BondThis idea proves that if we see long term low rates there is a good chance the Precious metals will soar higher. On the other hand if there is significant rise in the interest rates than we can see some drop in Gold and Platinum prices, but I believe this will be short term.
Move to upside on PlatinumI think the move to higher price will continue and once we are over 200MA then we have more certainty that price is going higher.
Clear trend between mineralsTVC:GOLD
TVC:SILVER
TVC:PLATINUM
FOREXCOM:CUUUSD
Everytime gold, silver, copper, or platinum takes a hit or grows, the rest of the prices per oz go higher as well!
Everyone is buying cryptos, while PL looks "precious"Pun intended. All I hear from the post office guy or my friend's aunt or whomever wants to talk about finance is, what's going on with these cryptos. There's decent coin to be made on the precious metals here. Let me quarterback this out.
Initial Margin in PL: $1925
A 25 handle move = $50/handle x 25 = $1250 profit, less commissions.
ROI = 65%
For any investor/trader to make 65% on a crypto from here would mean. Now if I go on bitmex and trade a perpetual inverse swap, now we're talking!
BTC from 7800 to 12,870
ETH from 330 to 544.50
I love trading all assets and don't have biases toward any particular one. Important factors remain the same: liquidity, volatility, slippage, flow and hours and feel for it watching the tape. One isn't better than the other. It's the one that suits your trading style, personality, risk tolerance, sleep-like-a-rock-ness, and obviously, profit potential. Point being trade it all, learn it all. Try it all. Then figure out which one you can get really really good at and focus on that.
Long Position in Platinum from a well tested supportI am initiating a long position in Platinum futures at current prices which are well supported over the last several years. I think a long term bottom may form as the Platinum price is mainly driven by automobile industry and it is doing quite well recenlty. The position is taken with Reward to Risk ratio of 2.50 and can be kept even further!
Long Opportunity - Platinum - WeeklyDo not trade based on my ideas. I am a novice and post this for interest's sake only.
1. Long descending triangle coming to an end. Enter long after a weekly break and close above the trendline.
2. Potential inverse Head and Shoulders down there as well - the left shoulder is VERY close to the head - not sure if this is valid. Also wait to enter long above break and close.
I will probably wait for a break above both lines...with any luck the same week will do both for me :)
Trade carefully everyone
SH
Platinum Futures. Watching and Waiting to go LongPlatinum, along with gold and silver, have been in a decline for the past month (20 bars) with no reprieve in sight. We will be looking at previous S/R zone of 890-900 for entry points. Bottoming is usually a process and we never look to "pick the bottom". We've learned over the decades that that's a losing game with a negative ROI. We are merely examining which spots give us the highest probability and then use prudent risk/reward management to entry and exit trades with predefined stops and targets. Let's keep it simple.
