Platinumshort
Platinum Analysis & Trade IdeaPlatinum has reached an important poi. Could be poised to take a fall.
It may take some time, as the USD has been weakened by slightly better inflation news, so we'll see.
The D1 momentum is bullish , currently, so waiting for confirmations for sells is the best course of action.
Look for bearish price action at current levels.
PLATINUM LONG TERM WEEKLY TIMEFRAME
Corrective move down
Currently at wave (B) while wave A was a 3 Wave daily move down. What I expect to be wave C could also be a 3 wave (Y) down.
Either way the weekly timeframe is a corrective move down.
DAILY TIMEFRAME
Trading with the weekly trend down.
5 Wave move down was completed and noted as wave 1
A corrective (3-3-3-3-3) noted as wave 2 is complete
expecting a wave 3 daily down or a 5 wave down.
4 HOUR
Ideal entry zone
Probable time holding of this trade is 1-5 months : Not guaranteed just a projection depending on the timeframes
GBP/USDT - Great short positionFormed triangle forming. Big likelihood to break out support line. If it happens, expect retest and decline to the key level. Good chance to make short position.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
PLATINUM (USD) Monthly, Weekly & DailyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
Trades made when the monthly, weekly and daily arrows are pointing in the same direction are the most profitable.
This is not trading advice. Trade at your own risk.
Platinum: Time to Buy?I think no.
Price is currently consolidating around the $1017 level after breaking the $998 strong resistance.
$1017 is now a stronger resistance. Platinum broke it in June 2016 and tried to recover it at least four times with no success.
My view is a retracement to the EMA 50 level.
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Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor.
We hit XPT with 944. What's next?After our successful plan last time and hit even more than we anticipated. So what now? Our short term plan is to have a small correction as low as 915. Then we go up again for the midterm. As Platinum is quite volatile, short term against the main trend is very risky so we refrain from entering it.
With low leverage, it can be tried like this:
Entry: 935
Stop: 944
Final target: 919.
Remember that the bigger time-frames signal us that it will surge but the likelihood of correction before moving up is pretty high.
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 Buy & SellI think platinum has now completed leg C and is on its way up to leg D before sellers come in again. It may extend further down a bit more before going up but i think this is a good level to buy before shorting again.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk