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Platinum

Precious Metals are going places! Hi Traders As we have been seeing very volatile markets in the past week, trading any direction currently is not easy. It is now, more important than ever, to stick to your strategy and do not let yourself be distracted from potential gains you are missing out on. The worst thing you can do to your portfolio is FOMO. Stay cool-headed and trade the obvious. Precious metals are of interest to investors and traders currently due to arising macroeconomic uncertainties that have been evolving over the course of the past 3 years. But also recent news have been filled with a lot of FUD regarding the banking sector in the US, bailouts in a high interest rate environment and many more things happening currently. Crypto but also precious metals have seen fantastic gains since the start of the week, thanks to investor running away from the legacy markets and trying to find more safety in the digital and physical safe havens. As Gold looks quite strong, I will be discussing a potential long trade idea below, please understand that gold is sitting on a strong resistance at 1920 USD that has historically been though to smash through, therefore sticking to the plan will be crucial for execution. Here is my Game Plan for XAUUSD: - Reclaim of 1910 entering range of between 1910 and 1930 - Hold above range for a significant amount of time - Price needs to be trending upwards - Smooth price action is a prerequisite for this trade - Consolidation right under upper half of the violet box - Entry upon break of box - T1 1947 USD - T2 1966 USD - Stop will be disclosed once trade has been entered Trading needs a plan, only a plan can give you orientation. Sticking to the plan means that you will have a reproducible procedure which can be assessed for mistakes and learnings. It is comparable to the scientific approach, the only difference is, a trader is not interested in facts, he is interested in gains. Please make sure to leave a like and a comment if you liked what you have been reading. Also follow me if you like my approach combining macroeconomic news, fundamentals and technical analysis. Have a good one legends Best CH
FOREXCOM:XAUUSDLong
by TraderCHgold
Does Platinum rhyme with Bailout?Mo money Mo problems. The philosopher Notorious B.I.G. used to sing about that. With the unlimited backstops to deposits and blank checks being thrown around, it might be a good time to review metals. Platinum is more rare than gold. Historically it has traded at a premium to the gold price. Currently trades for about half the gold price. All time high in platinum is 2290, but those dollar were pre 2008 bail out dollars. As gold nears all time highs over 2k, I cant help but wonder what could happen with Platinum. in inflationary times metal do pretty well historically. and since deflation is being bailed out with the banks, the inflation case is more likely now than last month.
TVC:PLATINUMLong
by optionfarmers
Gold GC1 - Discard Greed, Enjoy the Tranquility of RationalityGold is one of those things that has always made humans go mad with greed. There's a deeper reason for this that people can't quite grasp on the surface, but the metal has significant inner meaning for many cultures, families, societies, and belief systems. I've heard over the last few weeks that the Chinese Communist Party has been buying tons and tons of gold, and this news has been used to drive the price back to that $1,923 ATH, which for many years, nobody thought would ever come again, and then happened again after COVID, and then was lost. But you should always remember when a government and a central bank is in trouble, and the CCP is in significant trouble with the damage Wuhan Pneumonia and Xi Jinping's worthless "Zero COVID" social credit persecution of his own people has wrought to the Chinese economy, they tend to buy a lot of gold in an effort to make the situation look "totally great." But gold is hard to trade for critical commodities like oil and food, and USD still reigns supreme, whether you like it or not. Of all regimes, the worthless and wicked CCP is the one you want to trust the least. Really, those rogues are the ones you ought have so little faith in that you totally oppose them and cheer on their annihilation. Never forget these words: 'China' is not 'the CCP'. Moreover, Washington/NATO are also not a big fan of Xi's control of the Party. When a whale takes a big speculative cash position, those who count as "Gods" are given an opportunity to dump it in the other direction, forcing their opponent to sell huge quantities of bullion at a loss. Xi and his beloved CCP barely even count as whales at this point in history. They're about as much of a "whale" as Sam Bankman-Fried and FTX were. Think that one over. Moreover, Jim Cramer said in July of 2022 that gold "is one of three things that 'holds its value in a recession.'" Well, gold followed everything else to dump during 2020 COVID hysteria, and it lost 30% of its value during the '08 Financial Crisis too. Here's the problem with gold making a new all-time high this easily: 1. When gold makes a new $2,100+ ATH, it should really take off for a "commodities supercycle" like wheat, copper, soy, corn did last year. 2. Gold's trading to the $1,630 range was merely a gap fill from the April COVID rebound run 3. $1,630 is still $100 above total long-term range equilibrium 3 (b). This means a new ATH now would indicate a stop raid followed by an eternal dump. Possible, but not very likely at this point in history. What I believe will happen is this: Gold will run $1,940 - $1,960, sweeping breakout traders and goldbugs, and finally get hard rejected Gold will pretty much straight line dumpster fire towards a price that is worse than the $1,569 range equilibrium Nasdaq and tech stocks are going to rally so hard that some items like Tesla, Apple, and probably the index itself, are going to form a Bump and Run Reversal Commodities dump as equities are used to draw in "err'body" because they're the only thing going uppy since oil is dumpin' Gold will start to rally once the stocks that draw in retail dead money are topping and are being distributed Gold, oil, and natural gas will go hard as equities begin to languish and correct $3,100 gold will be the signal that every market has met its fated end In terms of timing, the Bank of Japan does its monetary policy thing on Tuesday, and with how much Yen it has had to print to maintain the (all new) 0.50% cap on 10Y bonds, we can expect they will be forced to relax Yield Curve Control again, probably to 1% Imo, this will cause markets to dump and arguably be choppy, but on the recovery/bull side heading into Feb. 1 FOMC. Markets will feign "indecisive" until Feb. 1 FOMC, which is likely to be a 0.25% FFR hike, triggering a mega rally in equities, a rally which commodities stop tracking. All of the above amounts to an exit rally for Japan's old money, which is a simply fundamental driver in the equities market as one of the most liquid populous seeks yield that its own central bank has refused for years to offer. When the 10Y JGB yield is 1.5% Japanese money will leave US equities and start buying its own bonds. YCC will ultimately be relaxed way beyond 1.5%. Once the markets start to dump is likely to be in the middle of the year when the Federal Reserve finally pivots on interest rates. Contrary to the narrative espoused, major market corrections have often followed a Fed pivot, so long as it occurs when the market isn't embroiled in GFC/COVID chaos. The caveat to all this is that if the Chinese Communist Party were to collapse, because of a combination of Xi Jinping is an idiot and the Wuhan Pneumonia pandemic inside China reveals itself to mankind as totally out of control, then everything that has been planned to break both bulls and bears alike will be sharply truncated by a 2,000 point Monday morning SPX gap down. Gold, oil, natural gas, equities, bonds, everything will die like the FTX token did. Nothing will bounce. It's very dangerous. It's very hard to avoid. When people are "bullish on China," what they really mean is that they're bullish on the CCP. This is the hallmark of a total fool. Don't be that imbecile. What a truly wise man does is to make as much cash as possible in lieu of the day that the evil Communist Party and its organ harvesting of Falun Gong and Uyghurs collapses. That is the day you invest in "China" and its 5,000 years of dynasties, its traditional culture, and the Divine path. If you can do that, you'll make Warren Buffett look like a blip on the radar in history. For real.
COMEX:GC1!Short
by LordWrymouth
3
Platinum Bullish Flag Set to Become a 5-wave CorrectionThe bearish price action in TVC:PLATINUM that started since Feb 2021 has the hallmarks of a bullish flag: Overlapping waves WXYXZ No significant price movement compared to the bullish impulse from Mar 2020 to Feb 2021. It has taken more than 2x the time to retrace 61.8% of the previous impulse move. Forecast: Platinum breaking below the previous low ($825), potentially hitting the $700 area near the bottom trendline of the channel Platinum bottoming at the Z wave The price bouncing back targeting the upper trendline as the first target and the previous high ($1336) as the second target.
TVC:PLATINUMLong
by DavoodWadi
1
Wide turbulent ranges for the ZARReferring back to my long-term idea posted in January (linked below “1H2023 USD/ZAR weekly timeframe”) I believe that the pair has started its 5th impulse wave higher towards the 2020 high around the 19.30’s after the failed break below the critical support rate of 16.80. The rand has depreciated for five consecutive weeks since mid-January which has seen the local unit slide roughly 7.65%. The economic calendar for this week is a heavy one with a host of local and international events and data prints which is expected to throw the pair into a wide trading range. Locally, SA’s finance minister will present the updated budget tomorrow. The main point of discussion that investors will look out for is Eskom and it is anticipated that the government will advance their plans to take on a sizeable amount of debt from the ailing power utility. The rand also faces a potential grey listing by the FATF this week. Honestly, don’t expect any local factors that will be rand positive anytime soon. Internationally, Wednesday’s FOMC meeting results will be released which will probably just support the Fed’s recent hawkish sentiment. To wrap up the week, US GDP results for 4Q2022 will be released and on Friday the US PCE price index will be updated, the Fed’s preferred measure of inflation. It’s difficult to make a call how these data prints will influence investor sentiment. Despite all the above factors that are undoubtedly rand negative, the rand could pull the pair lower towards the 61.8% Fibo rate of 17.84 if risk-on sentiments flow into the markets following the FOMC minutes, US GDP and PCE data prints. The rand tends to pullback aggressively after an uptrend, it overshoots like a rubber band to the top and bottom side. If this pullback materializes, buying at rates around 17.80 may be favourable. The support levels currently sit on the psychological rate of 18.00, 23.6% Fibo at 17.95 and then the critical support at 17.83 which coincides with the neckline of the broken parallel channel. I’m personally looking to leave buy limit orders between 17.75 and 17.85. A break above 18.28/18.30 will invalidate the expected pullback. Technically the daily MACD seems to be rolling over and could cross to a sell signal while the RSI is sitting in overbought zones at 67.85 which supports this expected pullback. Two factors that also support this USD/ZAR pullback is my expected pullback in the DXY and the fact that Platinum is finding support around $920 per oz (ideas linked below).
Short
by Goose96
3
Plat finding supportThe price of platinum has since January 2023 nose-dived by roughly 16% which has seen the metal fall below its 200-day MA price of $947.60 to touch lows around $910 in Feb. The metal is however finding some support on the green 61.8% Fibo retracement level of $922.85 and the longer-term blue 23.6% Fibo. Technical indicators are supporting a move higher for the metal with a re-test of the 200-day MA looking likely over the near-term. A break above the 200-day MA price will allow the metal to claw its way higher towards the 50-day MA price currently at $1012.03 in my view. The heavily oversold daily RSI and the rolling over of the MACD indicator supports this price action, but for now we need $922.85 to hold its ground. (I’m not too familiar with the fundamentals regarding precious metal prices, some references or pointers would be greatly appreciated. I mainly watch the price of plat to support my USDZAR views)
TVC:PLATINUM
by Goose96
1
Platinum long scenario Oke guys, I'm going to watch this for potential long if price give us second touch of the ATL, it showed good rejection at first touch and now I'm looking for a pullback to POI and if it comes to the marked zone, I will wait for 4H rejection candles and after that I'll consider buys. Confluences are: 1. Daily 50EMA touch 2. Nice break and retest of S/R zone 3. Bullish trend on 4H, D, W 4. 61.8% fibs 5. initially it showed rejection at the first touch of daily 50EMA Technically its looking good, but remember that we jump in longs only if we see a good 4H rejection candles at marked zone
PLong
by JivkoXristov
Platinum could rise to 1200 zoneSince the late September low and strong support from 850, Platinum has had a nice rise of around 30%. On the last trading day of 2022, the price also broke above 1050 resistance and, after confirming this break as a genuine one last week, Friday's candle is a bullish engulfing. All these are suggesting up continuation and the 1200 zone could be next for Platinum. Buy dips in the 1070-1080 zone could be a good strategy that also offers 1:2.5 R: R
EASYMARKETS:XPTUSDLong
by Mihai_Iacob
Gold May Reach New All-Time Highs Early In Q3:2023My research suggests Gold may continue to rally above $2079 in early July 2023. I believe the current US/Global market crisis event is very unique - something many people fail to understand. Many professional analysts have gotten married to the 2008 market collapse scenario. I'm watching dozens of posts on social media and other sites where everyone is uber short. I don't understand why it seems so many people fail to understand the real context of the global markets right now. In my opinion, this is 2003-05 all over again - mixed with a bit of 1993~1997. Few people really understand what I'm talking about. Let's see if you can tell me what you see in the markets right now. The biggest opportunity of your life is about to unfold. Get ready for a big WAVE-5 Rally.
COMEX:GC1!Long
by BradMatheny
3
Platinum is the one to buy and hold for yearsI've been bullish platinum for a long time now, but breakouts from such long-term ranges take time. We've seen similar shapes in crude oil and in copper, both of which have broken out. I started discussing the upcoming crude oil breakout on Twitter in 2019 already, and I've been doing the same for platinum. In time, we will surpass the all-time highs, which isn't strange considering that platinum can be used as an industrial metal to support the electrification trend. Don't expect this to breakout tomorrow. It could take until 2024, but I'm very confident that it will be a matter of time. In the short term, I am looking for a drop by possibly as much as 3-5%, which is when I will start adding to my existing position. A critical level is $1,040 and it seems likely that we will see a test of that level before we head back to the current levels. On a side note: platinum looks like it will be outperforming gold in the coming years. The gold/platinum chart is an interesting one to look at. PS: Please disregard the RSI indicator here, it wasn't supposed to be shown.
TVC:PLATINUMLong
by Birdseye88
1
Greenwashing Can Only Take You So FarSibanye-Stillwater follows a number of broader correlations. Platinum, palladium, gold, gold miners, the SA40. But until now nobody has mentioned that--because of its earnings misses lately-- perhaps the market is pricing in SSW's overextended battery metals M&A strategy. Will they ever make money on their new lithium acquisitions? Is SSW even making money in its catalytic converter recycling segment? It is the largest such company in the world, so it's worth asking. In the short term macro, global electric vehicle production is going to slow; I don't see how SSW will profit from this in the near term. Now to the technicals of my bearish bet. Breakdown from a Rising Wedge has formed into a Head & Shoulders with the second shoulder rejecting back under the 200 Exponential Moving Average after a notable increase in selling volume. Panning out on the longer term, this is a rejection from previous support of the topping structure. I do not believe that this is a breakout from an Inverse H&S nor a base breakout + retest move. I believe SSW has topped and will continue to move lower.
JSE:SSWShort
by sdeutsch95
1