Chart Idea - PL Swing Long SetupEntry: 990
SL: 950
TP: 1185
RR: 5:1
Not a Financial Advice!!!
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PLN2027 trade ideas
Smart Money Positioned to LONG Platinum - COT StrategyDISCLAIMER: This is not trade advice. This is for educational purposes only to demonstrate how I am looking to participate in this market. There is significant risk involved in trading, do your own homework and due diligence.
COT Strategy
LONG
Platinum (PL)
My COT strategy has me on alert for long trades in PL if we get a confirmed bullish change of trend on the Daily timeframe.
COT Commercial Index: Buy Signal
Valuation: Undervalued vs Gold & Treasuries
Bullish Spread Divergence
Supplementary Indicators: Stochastic & %R
Remember, this is not a "Long Now" idea. These indicators are not timing tools. They simply tell us that this market could have a move of some significance to the upside, which we will participate in with a confirmed Daily trend change to the upside.
Good luck & good trading.
WHATS FLOWING!?: GBPAUD (SQUEEZE???) NZDJPY + CADJPY, & PLATINUMOANDA:GBPAUD
OANDA:NZDJPY
FX:CADJPY
NYMEX:PLV2024
Idea Description (Video #3):
In today's episode of What's Flowing, I cover a range of opportunities in both currencies and commodities. I analyze the NZDJPY and CADJPY pairs, offering insights into their current market trends and potential trading strategies. Additionally, I dive into a long-term play on platinum, discussing why it could be a valuable addition to a portfolio given current market conditions. This episode provides a well-rounded look at both currency movements and a strategic commodity play.
Palladium Rebounds at Key Demand Zone: A Bullish ReversalPalladium has recently experienced a significant rebound at a key demand area around $913, which could mark the beginning of a potential reversal. This price level has historically served as strong support, and its recent behavior suggests a shift in market sentiment.
In addition to this technical observation, our analysis of the Commitment of Traders (COT) report indicates that large speculators and commercial traders might be adjusting their positions in a way that supports a bullish outlook. The emergence of a Double Bottom pattern further strengthens the case for a potential upward move. This pattern, often seen as a reliable reversal signal, indicates that the market has tested a low twice and failed to break lower, which could be a precursor to a significant rally.
Given these factors—the rebound at the demand zone, supportive signals from the COT report, and the formation of the Double Bottom pattern—we are closely monitoring Palladium for a long position. The convergence of these technical and fundamental indicators provides a compelling case for entering the market with a bullish stance, as it suggests that the price of Palladium could be poised for a notable upward movement in the near future.
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PL: LongPL is making higher high and higher lows
There is no divergence and trend will likely to continue
Trend: Uptrend
SL: 950
EP:967
TP:990 (one of the last lower high, if it brakes this then the next target will be 1040
Risk to reward has been kept at 1:1.5
8.18.2024 Weekend Pre-Market Analysis Platinum Platinum pre-market analysis.
Setup out zones and levels to prep for the week ahead on Platinum.
Look for structure setup on the lower timeframes to get into the trade.
8.3.2024 Platinum Weekend Pre Market AnalysisIt's the weekend. I like to go out to my larger charts and clean off the entire chart and start analyzing the instrument for next weeks trading.
We know that price is going to move up or down from where it currently is located, so we just need to make up a game plan to trade it..
Looking out at the 4 hour, 1 hour, and 15 minute charts for our trend and target analysis. Then dialing it down to the 3 minute or 15 minute to look for an entry!
PL1! shortLooks like buyers are stepping in at the moment, still not ready to go down to participate yet but gonna keep my eyes on it.
Bullish on PL1!Looking at this market it seems to be on the bullish side, despite the fact that multiple stage 1's (wyckoff, consolidation, etc)has occurred. Just waiting for the buyers to step in then i'll pay alil more attention to see if there is a possible entry. But if it breaks below that starting point of the range i'll walk away from this market till it shapes back up to good context.
Platinum looking GREAT for upside to 1,117Platinum analysis is looking great for a (Long) Buy
And I am sure many platinum companies will follow with it.
Pattern:
Cup and Handle - Broken above
Falling Wedge - Broken above
Entry 1,019
Stop loss 971
Take profit 1,117
NATURE: HPT (High Probability Trade)
Price>20
Price>200
PL next trade long of a 30" wave B UPIt is a lot more relaxing to trade a longer timeframe, 30 " to 60" work best with Pivot Trading.
This trade is based on riding this wave up to one of these levels, in blue, these fib based numbers show most bearish to most bullish level.
I got here looking at a 5" candle which also looked promising:
we completed an ABC down on 5" to the elliot level predicted, which happens 80% of the time, and are ready to start the next set of 5 waves up, since we are in a mega Grand Supercycle bull trend for 24 years we presume up.
I suggested PL would sell off this morninggyazo.com This was the situation then, PL1! had gone up to recent ATH and set a new record for recent months. I looked at the contract 1 month out, PLQ2024 and found them way overbought, and at the top of wave 5, and there were only 3 buys that took PLQ2024 to the same high as the current contract PLN2024.
Because of all these factors, reasoned that when the current contract sold off there would be no support all the way down to recent highs. It is working.
proof:
www.tradingview.com
This contract is so thinly traded there are 0 buy contracts all the way down into the 1011.7 area.
new information, my EWT SW told me they might shoot up on a 5th wave, so set a very tight stop ( usually I use an ATR stop, but this stop was to protect profits. I took 95% of my profits, went long rode the wave up and re shorted even higher than before. 1033.30.
gyazo.com
Platinum: Destination Reached Platinum has reached our beige Target Zone between $995.40 and $1026. Within this range, the price should place the high of beige wave (4) and enter a larger sell-off. If, on the other hand, there is a direct break of the resistance at $1105 (28% likely), we will still see the price in the green wave alt.X.
Platinum - 3 trade plansThis is what we are looking for Platinum to do. We have several trade plans to trade, as it gives us the market setups.
3 contracts Long on PLOpen long position on PL w 3 contracts. Breakout of trendline and end of reatreacement of the prevoius up movement. Entry in discounted area.
SL at 944.5
TP at 1200
NYMEX: PL Platinum futures prices forecastNYMEX: PL Platinum futures prices forecast
T/S : Trend Trading
B/S : Buy
Entry : 950.00
Target : 2,350.00 (147.37%)
Stop : 840.00 (-11.58%)
Date : Jun 17, 2024
Note : Resistance 750, 1450, 2250, 4100
3 contracts Short on PlatinumBreakout of trendline | Fib retreacement | Short trend till 966 in order to close the previous inefficiency.
PL LONGtrade logPL 976.5: I suggested we sell PL, eventually it went down to 955, see my Ideas to verify.
There was a complex ABCDE UP wave correction up Monday June 10th
we were long all day but sold the close @ R6. We rode it down to
958.6 and went long where you see the first buy. Please feel free to verify my posts. ;p
All I have been doing it using my brokers platform ThinkOrSwin to trade on alone with fewer talking.
.
-- I BUY if price has reached my Keltner and bollinger band channels low.
-- I SELL if price has reached my Keltner and bollinger band channels high.
I made $1500 today. PL is volatile to the extreme, with huge margin, trade it carefully, it's not the ES!
I'm long ATM since the buy signals left behind from my trace calls.
If I can I will do a presentation soon.
PL buy outside Pivot Point rangeI showed 6 months of trades and channelged people to find a day that closed outside the PP range. usually efore the market closes if we are below S6 we rally back up into the range. If we are above R6 we fall down back into the range.
This is a high probability trade, especially if you measure how far we fell, from 1,100 to 972, there is a lot of ground to retest.
Adding one more contract Short on Platinum in case of break Waiting for the break to short one more contract on PL.
Ready to close the trade once all inefficiencies are covered.
EWT says PL platinum is about to rumbleThe next wave will likely be a wave 5 up. Current PT 1133
That selloff was paper Selling, I hope everyone used stop losses.
However now we are here near the bottom of wave 4. just above S5, a powerfull buying level.
I don't know exactly when the selling ends but right now there are the potential buy levels.
Advice on trading Platinum PLPL is very volatile, by comparison with NQ it makes the NASDAQ look a little tame. Today I called for VWAP and we reached it, 1016.10 Then I called for long term support at 1022.4 we reached 1020. BUT beware a fast selloff.
Right now we are cimbing up from 1008, at 1012.20. I think we can easily get back up to VWAP and long term suipport.
Be sure you use a trailing stop loss to lock in profits! Don't let them take your hard earned profits.
platinum monthlyGreat opportunity for #platinum morphing into existence...
stay clear below this 16 year breakout line
the potential is there... but no need to front run and possibly get trapped
