$PL1! Platinum Futures. Bear flag breakBear flag break on the daily chart and and $850 target looks likely.
PL1! trade ideas
F/U on Platinum Still looks bullish to me. IFFF this wave count is correct there is likely more up movement to come. (But personally I don't trade just on EWT , as I am least likely correct). But today the price has broken up above the current down trend channel. There also is a positive reversal in the daily RSI. And the US Dollar index is still trending down.
I personally do not trade futures. For this I use PPLT.
PlatinumTwo different lines to look at when preparing for platinum long. Broken out and retested within a larger test
Platinum Futures it will go up long tradePlatinum Futures will go up long trade but will take a few weeks to a month.
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Plat Bull flagPlatinum still respecting the uptrend support from march. Pulled back to it and formed a bull flag.
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Platinum Futures: Time to change direction to bullish?Platinum is at a long term log down trend line from 2008. With the US dollar now falling I favor this line will soon be broken and uptrend begin. Technical observations that support this idea are: 1. Bullish divergence in the monthly RSI. 2. Huge up volume on the last price drop (seen monthly chart). Volume spikes often occur at tops and bottoms. 3. Less important but I think the EWT count is favorable. They may be a brief pullback before a up surge but maybe not.
I see the first target at about 1320, but IFFFFF analysis is correct it may someday exceed the 2300 high.
Take care. Process and trade your way.
Feedback always welcome.
PL - Swing Trade - 7/22Long: $924
Target: $1020 (highs of 2020, top of horizontal trading zone)
Stop Loss: $914
Trading plan for Platinum- Move Up - Long Strategy- PL1The market goes up but a major resistance could limit the rise
And don ‘t forget to take your profits…
