Get started

Platinum

Palladium Ideal Entry (November)Entry plan is based on the palladium head and shoulder pattern . I'm waiting and watching for price action to signal a top near the dashed line (drawn from left shoulder's high). Ideally we get some deceleration with a doji candle followed by a high test candle to form the right shoulder and signal a reversal to the downside. The bull cycle counts are pointing towards Q4 as a ideal time for a high and the monthly counts confirm that with their November target. Ideally I'd be able to hop in around $800-$850 if/when that confirmation comes with my stop above the high we form. The market still has quite a bit of chart to fill over the next 5~ months so things wont become clear until we get closer to that November target. Reward:risk ratio target would be around 10-12:1 for the first entry. I'll publish a more detailed plan as well as my entry if/when that time comes. For more in depth analysis on this trade and others checkout my site, PatsTrades. Link is in my profile status box. Thanks!
NYMEX:PA1!Short
by patrick186
Platinum @ 800As the price has tried to push upwards this year but has met resistance at fib levels and so forming a descending triangle pattern this year (or at least a descending channel, not drawn here). The price has been performing in a bearish KUMO area since march and I do believe that we wont be seeing any higher prices going much over 950-960 in near future (KUMO and FIB resistance), but rather a price closer to 800, especially if it breaks below 900 in a few weeks, breaking out down of the triangle pattern. Any thoughts?
TVC:PLATINUMShort
by SpaceCock
PLATINUM BIG BULLISH POTENTIAL FOR A 300$ RISE!As usual the chart tells the story. In 2016 we had a 5 wave impulsive move higher from a multiyear low @ 810$. Signalling that this low is important and solid for now. Since august platin prices have been in a 5 wave downmove the lows of wave 5 touched 890$. It then took the market 2 months to form a decent bottom around the 900$ handle. Now in the recent days market made an impulsive move higher towards the 1000$ mark. This impuls is for me a signal to look for longs. I am personally waiting for a good correction of this recent move towards 920$/930$ and i will look at lower timeframes for a good entry spot. What also speaks in the favor of this idea, are seasonal developments, historically seen, platinum has the best price development from january till the end of april, so this might be the timeframe needed for this idea to play out. Targets can be defined quite easily there are two major falling trendlines on the weekly and monthly charts. The first one is around 1100$ and the second one around 1250$. My trading style personally says to trail a position as long as it looks good to me and to take off partial profits along the way on important resistance zones. This idea has a potential Risk:Reward of 1:5 and 1:10. Keep an eye on this potential AB=CD formation that might be playing out along the way. Please use proper risk management, and dont risk too much of your capital on one single trade. Best of luck.
TVC:PLATINUMLong
by IamJeanPaul
Platinum - LongAlthough platinum is considered a safe haven, it also thrives in a productive economy. This gives it a great chance to do well during 2017, as people will turn to precious metals during times of uncertainty (which there will be a lot of in 2017), and with Trump wanting to spend like crazy on industrials (emissions control amongst other uses), this could propel platinum. We also received a bullish car sales report today, as an increase in car sales means more catalytic converters will need to be built, which requires platinum. There is also bearish divergence in the RSI.
OANDA:XPTUSDLong
by GeorgeJimas