XPT USD BUY (PLATINUM - US DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
XPTUSD
XPTUSD Sell SignalPattern: 1D MA200 rejection.
Signal: Bearish as the rejection took place on the RSI support level.
Target: When the RSI hits 33.73.
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Platinum short - Daily ChartPrice seems to be obeying previous trendlines (red dotted line & pink line).
As price meets vwap once more, it looks like a good area for shorting.
Wait for an entry reason, what ever you choose on a lower time frame.
US Markets Go Up, Gold & PM’s Loose Strength, Mixed Up WorldSeems S&P and Dow stole the precious metals energy this week… Just a quick update to see Gold falter here with a possible break of the inner lows trend line from the previous low. Silver and Platinum are in a slightly different position whilst sharing similar structure and the inner highs trend line dictating some resistance. End of week may condense through to an Apex situation or a test of there respective inner lows trend line.
Without further analysis for a more in-depth overview . Gold fails here, at this level to fall, XAG and XPT will tag a long for a look over the edge.
XAU:
XAG:
XPT:
Precious Metals To Follow Golds FlowPM’s will look to follow gold's move on a break of its inner lower trend line discussed in the previous post (see link below) This will see Silver & Platinum potentially retest the inner lows trend line or dribble to the APEX. A break to the upside on Gold will see XAG and XPT see resistance at their respective inner high trend lines
Gold:
Silver:
Platinum:
XPTUSD | Platinum Horizontal Support and Resistance LevelsXPTUSD | Platinum Horizontal Support and Resistance Levels
Precious Metals On The Move NorthGold looking to pop or open into the APEX and GO
Silver holding within upward channel
Platinum also holding within upward channel
XAG & XPT to follow XAU if it breaks...
Platinum To Break Above Consolidation This WeekPlatinum Overview
Good ol’ XPT closed the week higher. If P action at Mondays open can push P action above this consolidation platinum could have a good week in the green. A hold above this and a follow of the likes of Gold and Silver could see price reach $880 within the next 2 weeks.
If American markets fall, will look to see the precious metals take a slight dip also, however will not fall with as much volatility.
Area of Interest
Focusing more on the internals and TA on the charts Platinum must hold the trend line from the lows, break through the inner high trend line freeing itself from the grasps of the last 2 weeks consolidation area. 820 will see some considerable resistance that bulls will have to fight to get higher.
📈Support & Resistance📉*
Support Levels
1st Support Zone: 755.484
2nd Support Zone: 713.468
3rd Support Zone: 682.747
Resistance Levels:
1st Resistance Zone: 799.035
2nd Resistance Zone: 818.817
3rd Resistance Zone: 863.278
Price Level Consideration
All Time High Half Way Point: 1151.080
Prominent High: 1020.971
Prominent Low: 563.635
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: 918.377
🐻 Bearish below: BEARISH at the moment
Monthly & Weekly Opens
Monthly Open:776.026
Weekly Open: 771.095
Double Top in PlatinumI think platinum has made a local top here.
Weekly structure is very ugly. Quite pretty for shorts though.
XPT/USD Descending Channel There is a chance we could see Descending Channel breaking for XPT/USD in near future. We have put pending orders just below strong Support line.
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Good luck !
Buying opportunity for PlatinumThose of you who catch it at the bottom at 564 price level would have made around 39% profits. Congratulations !!!!
Again, I emphasise, if you are already in other precious metals like Gold and/or silver, you may not want to long this as it would increase your risk exposure.
Now, let's wait for the correction before taking a long position .
Xpt/usd update 4Update 4 7:30 am
Been an excellent week gone from 100k leverage to 971k on 4 trades. Rate of change has continued through this week with only minor corrections
With plenty of headroom to go will continue to monitor
Long xpt/usd update 3 After 36 hours of watching this pair(three hours total) Currently @+40% adjusting stoploss to secure gains, and lifting take profit to account for pattern moving at 3x speed Original estimated speed.
XPTUSD | Cup & HandlePlease support this idea with LIKE if you find it useful.
Price formed a Cup & Handle. Moreover price already broke the Horizontal Resistance and confirmed the pattern. So we can initiate a long position with stop-loss below the Horizontal Resistance
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
