PLATINUM Golden CrossRecently platinum has broken the downtrend, and made a nice upward move setting up this golden cross on the weekly chart, its as simple as that.. upsides can be expected as a result of this. Happy New Year from Australia :D
Platinumpips
Platinum: TA for VIP memberHere'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!
PLATINUM TO GO 'LONG' FOR YEARS COMINGAfter studying market on the Monthly (1M) view I strongly believe Platinum has bottomed out and headed up with indication of trend reversal to follow in the coming weeks. Last time the market hit this low was in 2008, however, came quite close in 2016. I highly doubt there will be much further downtrend below 760.99 but I do remain prepared for such a possibility.
Price target to bottom out reached;
1st horizontal line in yellow - 803.58
2nd horizontal line in yellow - 760.99
Further downtrend & not so likely in my opinion;
3rd yellow line 596.34
4th yellow line 403.37
Please study your indicators understand some, as they would help you determine a suitable entry point. use lower timeframe views such, Weekly and Daily view for a suitable entry point to go uptrend.
Also, do set stop losses but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
Looking for Short opportunities on AudUsd.We can see AudUsd is in consolidation on the Weekly timeframe with nearest consolidation ceiling at 0.8050 on the long term. However short term, we see price is arriving at it's nearest resistance. I am looking for any sell signal (chart pattern), possibly trying to make a correction before going up higher to the weekly consolidation ceiling.
This is a call to monitor the pair in this zone. No clear sell signal given yet. Long term, I am seeing the price going for 0.8050.
