XPT USD BUY (PLATINUM – US DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
XPTUSD
Platinum: Symmetrical pattern recognition for a lower buy.Platinum is on its way to complete a Head and Shoulders pattern on positive gradient, a pattern that was previously identified from late September - November. The similarities are strong and leads us to expect that a similar candle sequence will be followed. This suggest that the price should rebound close to 786.85 and seek a upper neckline of the RS between the 0.500 and 0.618 Fibonacci levels at 811.60. We will use this as the TP.
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Platinum ready to break higher?Platinum hit a 15 year low in August 2018. Since then price has been consolidating. Platinum historically has been more expensive than gold. Price has possibly broken above the bearish trendline and looks ready to break out.
Seasonality supports the break higher. charts.equityclock.com
On the downside, there seems to be strong support around $780.
XPTUSD stands at 40% increase... Platinum builds a rising wave structure. You are currently in an accumulative phase. You can spike it down, but we don't assume a permanent downward decline. The exchange rate may move in a double rising wave structure, and this wave structure will double, and the exchange rate will accelerate. The goal of the exchange rate is 1100 usd. Forward rise predicted.
PLATINUM FUTURES JANUARY 2019 (PLF2019) (PL)Platinum futures are moving in a clear downtrend as suggested by the weekly chart. On the 4-hour chart, prices seem to be moving in a downtrend and forming a falling wedge pattern. We can speculate a brief break to the upside, followed by a continued downward movement. However, my bias is short as most markets are hit hard by the power of the bear.
palladium vs PlatinumTechnically speaking, platinum can be due for an uptrend. But could take months for it to show sign of uptrend.
The last great shortage fear-induced panic buying spree in palladium occurred in 2000-2001. (It was only last month when palladium finally took out its 2001 high.) Palladium's great bull market began quietly in 1997 at about $125/oz. Over the next four years, a cumulative 800% gain occurred.
By contrast, from 1997-2000, platinum went nowhere. It began trading at a discount to palladium in 2000.
By the time palladium prices peaked in 2001, platinum was sporting a $400 discount to its sister metal - the same as today.
What is next for platinum could be similar to what was next for it back then. By 2002, platinum prices caught up with palladium's. Platinum proceeded to embark on an epic bull market - from under $500/oz to over $2,200 when prices peaked in 2008.
PLATINUM / SHORT OPPORTUNITY / H4XPTUSD
Trading Bias: Short
Technical Strategy: Head & Shoulders
*Must wait for break & close past neckline. The support channel is of significant interest. If we bounce, then the ideal short scenario is shown using the purple arrows*
PLATINUM SELL TRADEI am going to wait for the price to break out of the correctional channel in the lower time-frames; and if it breaks to the downside, we we will taking a short position.
PLATINUM BUY (PLATINUM – US DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Platinum in reverted head and shoulders configurationXPTUSD is currently in reverted head (h) and shoulders (s1 and s2), the neckline N has been broken and a pullback is observed on it. After the pullback XPTUSD price will probably increase to 920$
XPT (PLATINUM) MONTHLYFalling wedge + bullish divergence on monthly chart. As soon as it breaks the descending trendline, a long position could be considered in my humble opinion.
PLATINUM BUYHi there. Price is in an uptrend. Wait for the price to form a continuation pattern and watch strong price action for buy. Platinum as gold and silver is inversely correlated to dollar, so more the dollar fall, platinum rise.
Don’t take a trade if you don’t see clearly when big guys are in.
XPTUSD: Pull back completed. Resuming the bearish trend.Platinum has nearly completed a 0.382 Fibonacci retracement (860.500) on the 1W chart (1029 Top - 756.500 Bottom) and the price should be technically ready to reverse again lower and follow the long term bearish trend. 4H has already developed a Channel Down (RSI = 43.280, Highs/Lows = -0.2893, B/BP = -3.7820) which may spread to 1D (also on Highs/Lows = -1.3214, B/BP = -2.800). 807.070 is the 1D support that needs to be crossed. Also watch for the Higher Low supporting lines (indicated in red). Short, TP = 792.940 and 756.550 in extension.
$PLATINUM XPTUSD coming back from 2 decade lows $PLATINUM XPTUSD coming back from 2 decade lows . Needs RSI to go above 50 and stay there. Also watch for 21ema/50dma cross. This can be epic
XPT/USD - Long Term ReversalXPT/USD has for the first time broken above the 200 EMA since the beginning of the year of 2018.
This is a good sign of long term reversal from a bearish trend to a bullish trend.
***We can expect it to move higher up if the current support above the 50 EMA on the 4 Hour holds strong.
Give it some more time for confirmation, and enter as it confirms its support and strength to move up.
Trade safe :)
Inverted Adam and Eve Reversal Pattern - BullishXPTUSD broke out of the Adam and Eve pattern.
Cheers!
Commodities expected to rally up at triangle crashCommodities quoted as XXXUSD are expected to rally up at triangle crash of JPY, USD & CAD. Mainly because the prices are quoted in USD which is going to devalue hence any rate XXXUSD will go up.
