PL1! trade ideas
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…
Trading plan for platinum - Short Strategy – PL1The market goes back down but TWO major resistance could limit the fall.
And don ‘t forget to take your profits…
Platinum - Looking for lower time short entry Discussing the 5min and 1hr timeframes and laying out both a "possible" roadmap and the way that map can be navigated .....
Platinum goes shortDaily perspective, the rally is broke. Don't trade without Price action confirmation in 1h TF to take that beauty R/R short trade.
Just wait, don't fomo don't rush.
Reject, reject, and reject Keep failing on the negative resistance line. I am confident that platinum is destined to fall. TP 620. Will short more if PL could jump to 830 level
PL1 a short term long for good profit act fastPL1 is recovering from it huge drop and I have reason to believe it will reach 840 in the next few days. There’s been another red candle on the trend line and in the past that meant a rise. I believe it could reach around 840 and maybe slightly more before it drops again. Be vigilant as always to make some profit. Check the link down below for some other charts I did today that you might find interesting.
(Not financial advice)
