XPT Surges as EMAs Align with Bullish Chart PatternH ello!
XPT broke out from a falling wedge (See green trendlines!) formation with strong bull power, as the MACD shows. It wasn't against expectations since falling wedge chart patterns usually break upward. It's often a bullish formation. Thus, MACD and chart patterns align with a bullish outlook. Furthermore, the price is above EMAs (20/50/100/200). EMAs crossed upward on the 24th of September. Seemingly, nothing stands in the path of bulls until the green target circles. However, stay vigilant and don't go all in.
Regards,
Ely
Xptusdsetup
XPTUSD Possible short term bearish moveIn the monthly the price is testing a Supply zone. We could expect a move to the downside.
In the weekly the price is over extended. Also, the price is testing a supply zone which means that a possible move to the down side is coming
In the Daily the situation is the same. The price is over extended and rejecting a supply zone.
All the Higher time frame are in confluence for a bearish move.
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.
XPTUSD LONG - Buy Entry - H4 ChartXPTUSD LONG - Platinum - Buy Entry - H4 Chart
Symbol: XPTUSD - Platinum
Timeframe: H4
Type: BUY
Entry Price: Buy @ Market
Stop Loss: 921.05
Take Profit: 990.62
🔺 DISCLAIMER
🔺 For educational informational purposes only.
🔺 Analysis may change at any time without notice.
🔺 You must research and create your own trading plan.
Platinum- Target reached, now whatThree weeks ago I said that Platinum is trading in a rising wedge pattern and a break of this pattern can lead to losses and to a break under 1k important figure.
Platinum didn't disappoint me and it reached its target at 930.
With great selling pressure on PMs (Silver&Gold) we can also see this support falling and 850 can be bear's target.
Sell ralliers towards 970 can be a good strategy and only Platinum back above 1k would put a pause in this scenario.
XPT/USD 1DAY CHART SETUPHi everyone this is my trade set up for the XPT/USD for the new week ahead
we had a very nice push last week and i feel it still has the legs to to make the push higher
XPT/USD is still pushing up so i am expecting a pullback to the order block zones and will be looking for a BUY trade
look for pullback to zones lined off on chart then if it meets your criteria for a trade then execute
This is my analysis only please trade with caution and risk management in place
good luck for this weeks trading
please like and comment both are welcome