XPTUSD
PLATINUM 18th MAY 2022Platinum is in critical area, closer to support but at risk of bearish potential.
Big institutions and companies tend to decrease in demand, even though the supply of platinum is also decreasing,
I usually use 2 sources to see the sentiment of big players:
1. LME : London Metal Exchange is a futures and forwards exchange with the world's largest market in standardized forward contracts, futures contracts, and options on base metals. The exchange also offers contracts on ferrous metals and precious metals.
www.lme.com
2. CFTC : Commodity Futures Trading Commission is an independent agency of the US government created in 1974, that regulates the U.S. derivatives markets, which includes futures , swaps, and certain kinds of options.
www.cftc.gov
Due to the uncertainty of these, the price of platinum still tends to be bullish. bearish may occur if the support area breaks out.
This is my trading plan on XPTUSD, how about you?
COPPER 25th APRIL 2022
XPTUSDDue to the fact that the trend line hit the bottom trend line and was rejected, the uptrend to the trend line was determined
PLATINUM - LONGPlatinum is approaching a 1.68 ext and a double bottom.
Time to begin looking for a long.....
Platinum has formed a strong baseAs I said yesterday, I expect Platinum to rise and reach the 1020-1030 resistance zone, and price evolution in the past 24h adds more confidence in this trade.
Looking at the daily posted chart we can see that the drop started in mid-March has stopped in important daily support at around 900 and last week we have a sequence of Doji candles in this zone. Friday we have a strong bull candle and yesterday we have a Pin Bar that is diverging with Gold evolution (hard drop).
Going further my expectations are strongly bullish and only a drop under support would change my opinion.
Platinum- Good 1:3 R:R tradeAfter rising above 1k in mid-April, Platinum has started to roll back down and has dropped to 900 zone important support (see daily chart).
After reaching this support the price started to consolidate last week and finally has broken up.
Now the price came to confirm this break and is trading in the last resistance now support zone.
I expect a new leg up above 1k and I will remain bullish as long as the price is above daily support
#PLATINUM #XPT in a Perfect long-term Channel with 2 extremesPlatinum got rejected two weeks ago on the 'war candle' on the 1W time-frame and is on the 3rd straight red week since. The importance of that rejection, is that the candle closed within the metal's long-term (almost 4 year) Channel Up that started half-way through 2018. As you see XPTUSD tends to trade exclusively within this Channel Up structure, unless a 1W candles closes outside (either above or below) the pattern.
In almost 4 years we had two such 'extreme' cases, one was the March 2020 market crash due to the COVID pandemic, which was the bearish extreme that reached as low as (marginally breaking) the -1.0 Fibonacci extension level and the other the Q1 2021 bullish extreme that reached as high as (marginally breaking) the 2.0 Fibonacci extension level. Notice who both distances are symmetrical on the extremes and that in both cases the candles, despite breaking marginally below/ above, they managed to close back inside the Fibonacci extensions.
Sell swing tradeThis is a beautiful sell setup
Swing to the end, and always remember use protective stoploss as this is one of the factors that gives a trader statistical edge in the market.
Also a very nice risk to reward ratio
Short tradeThis can be viewed as a continuation flag pattern and also a double top (M) formation market
There are pure divergence from the RSI and also a fall out of the ascending channel
All this are confluence that the market will continue falling
PLATINUM Perfect long-term Channel with 2 extremes to consider.Platinum (XPTUSD) got rejected two weeks ago on the 'war candle' on the 1W time-frame and is on the 3rd straight red week since. The importance of that rejection, is that the candle closed within the metal's long-term (almost 4 year) Channel Up that started half-way through 2018. As you see XPTUSD tends to trade exclusively within this Channel Up structure, unless a 1W candles closes outside (either above or below) the pattern.
In almost 4 years we had two such 'extreme' cases, one was the March 2020 market crash due to the COVID pandemic, which was the bearish extreme that reached as low as (marginally breaking) the -1.0 Fibonacci extension level and the other the Q1 2021 bullish extreme that reached as high as (marginally breaking) the 2.0 Fibonacci extension level. Notice who both distances are symmetrical on the extremes and that in both cases the candles, despite breaking marginally below/ above, they managed to close back inside the Fibonacci extensions.
This pattern provides a low risk frame-work to long-term investors. Buy low and sells high within the Channel and if the pattern breaks and closes a 1W candle outside its top/bottom, trade to the direction of the break-out, either towards the -1.0 Fib or the 2.0 Fib.
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Platinum Swing Trading Analysis ! Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
XPT/USD Swing Trading Analysis & Education ! Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice.
Platinum: Ready For More Bullish Price Action ? Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice.
XPTUSD Short Scalp XPTUSD Short Scalp. I actually dislike this set up very much, but a signal is a signal. 100X leverage short. TPs on the chart. I won't be taking this trade.
Precious Metals on a very important inflection pointYesterday, Gold has broken above a very important level, 1830, a level that acted as resistance since July last year, and at this moment we may wonder, is this just a spike, or Gold has resumed its long-term uptrend?
Looking at the posted weekly chart we can see that after the strong reversal that followed August's low, the yellow metal has put in higher lows on our chart in September and in December (also this low is confirming a strong support zone at 1750-1760). Last week Gold has reversed again, this time from under 1800 and, as I said, yesterday it has broken above horizontal resistance.
At this moment XauUsd is facing an important figure, both psychological and technical, 1850. A break above this level would put bulls in a very good position and could lead to further gains towards the 1875 last high's resistance. Also, a break is extremely important, putting a stop to the sequence of lower highs started back in August 2020.
Platinum:
Unlike Gold, the recent high for Platinum happened in February 2021, and since then XptUsd corrected more than 30% to 900 zone, a zone that acted as support for more than 5 years.
At this moment the price is back above 1k and just under a very important technical confluence resistance provided by the falling trend line and the horizontal level. A break here is also very important, signaling resumption for the uptrend started back in March 2020 and giving scope for big gains for Platinum in 2022 (even to 1500)
Silver:
XagUsd's was more clear and technical than Gold's, with the price stoping and reversing for 5 times from 21.50-22.00 zone and confirming this old resistance as strong support
At this moment here also the price is facing an important zone and once Silver gets above, considering its violence and volatility I wouldn't be surprised to see the price at 50usd and a doubling in value.
Sibanye-Stillwater has broken out of consolidation $SBSW is looking to enter its next leg up, as it has broken its downtrend on the recent Rhodium strength.
Platin vs. RhodiumPlatinum and Rhodium have a very good correlation. Rhodium has a massive breakout. Will Platinum follow?
XPTNot financial advice.
The essence of investing & trading is the intelligent and patient preying on the greed, fear, impatience, addiction and ignorance of the majority. It's definitionally Darwinian.
Platinum to fall around 7%Like all PMs, Platinum is also under pressure and the last correction was very anemic and well caped in 960 zone.
At this moment XptUsd is sitting on support and I expect this to fall.
The next target for this fall could be 850 zone and only the price back above 960 would lift some weight from the selling side.
As in Gold&Siver's case, I'm strongly bearish Platinum also.
