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Platinum (XPTUSD)

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PLATINUM trade ideas

Platinum could rise to 1200 zoneSince the late September low and strong support from 850, Platinum has had a nice rise of around 30%. On the last trading day of 2022, the price also broke above 1050 resistance and, after confirming this break as a genuine one last week, Friday's candle is a bullish engulfing. All these are suggesting up continuation and the 1200 zone could be next for Platinum. Buy dips in the 1070-1080 zone could be a good strategy that also offers 1:2.5 R: R
EASYMARKETS:XPTUSDLong
by Mihai_Iacob
Platinum is the one to buy and hold for yearsI've been bullish platinum for a long time now, but breakouts from such long-term ranges take time. We've seen similar shapes in crude oil and in copper, both of which have broken out. I started discussing the upcoming crude oil breakout on Twitter in 2019 already, and I've been doing the same for platinum. In time, we will surpass the all-time highs, which isn't strange considering that platinum can be used as an industrial metal to support the electrification trend. Don't expect this to breakout tomorrow. It could take until 2024, but I'm very confident that it will be a matter of time. In the short term, I am looking for a drop by possibly as much as 3-5%, which is when I will start adding to my existing position. A critical level is $1,040 and it seems likely that we will see a test of that level before we head back to the current levels. On a side note: platinum looks like it will be outperforming gold in the coming years. The gold/platinum chart is an interesting one to look at. PS: Please disregard the RSI indicator here, it wasn't supposed to be shown.
TVC:PLATINUMLong
by Birdseye88
1
XPT with a long setup and a short setup - trying to break resistXPT enter on the next daily candle after the breakout - must be a retest candle I would set an alert and enter a SHORT once the target is hit - very high probability price action will come down due to very strong resistance at 1169.15 This would be a great SHORTING opportunity with first target around 1046 second target around 969 price movement prediction Price Prediction not financial advice this is for entertainment purposes only always DYOR
EASYMARKETS:XPTUSD
by TradeIntuition
Is platinum in a big bull run!?Thing was I haven’t pay attention the full charts.. even V shaped bottomed formed at the 800 area. What I see this chart carefully platinum is in a bull run the buyers pressure went harder and want it to breakout and go higher ; look how remarkable the volume is incredible isn’t it? I agreed to aldemap ( shout out to you ). Platinum is indeed in a bullrun. Once that trend line break then breakout bullish official. Platinum season is coming strong for the metals. Highest high yearly was 2300.. the new high target long term is 5000 but can hit 6000 possible. Target for 2023-2024 is first 3500 then last longterm target is 5500
OANDA:XPTUSDLong
by JoyBoyVegae
1
Drop or crash for Platinum Should expect a shortage respected the resistance .. drop down to 800 also buy the dip from that point. If reversals happens but if the bears stay remain strong then should break and profit take from 700-600 area. Because the inflation still over highs and warning for recession in 2023. If crash happens then big drop crash down to 400 or 350 area. Don’t forget to buy the dip no matter how many times hit the support.. trade safe y’all. We are still in a bear market and the bottom and a little off but we should be coming back down and accumulate
OANDA:XPTUSD
by JoyBoyVegae
1
xptusd .., 1:4 (risk:reward)Platinum/U.S Dollar (xptusd) analysis + trade breakdown : starting my analysis on the monthly chart (yearly overview) price has been trading in downward range, trading firmly between 2 parallel trendlines which are acting as dynamic support & resistance. monthly supply level now acting as demand @ 831.300 is in control having pushed price up by ≈10.20% to current price. inside the bearish channel, price broke out of small structure bearish trendline... forming a full OHLC candlestick above the trendline also indicating shift in current market momentum from bearish to bullish. i have long position of 1:4 risk, reward from liquidity pool ranging from 911.500 to 905.200 with target targets at supply level of proximal price @ 1072.850 where there is also a liquidity pool ranging from @ 1060.150 - 1072.850. objects used - black horizontal trendline - Price Of Interest blue rectangle - liquidity pool peach horizontal line - supply/demand proximal price. supply and demand put together by : Pako Phutietsile presented by : @currencynerd courtesy of : @TradingView The Nobel Prize in economics belongs to Satoshi Nakamoto, not Ben Bernanke.
OANDA:XPTUSDLong
by currencynerd
Platinum UpdatePlatinum is a pattern that can revert to the weekly demand zone. If the market hits the weekly demand zone, there are two cases. 1. If the rebound is successful in the weekly demand zone, it can be an expanded flat pattern with a very large W-X-Y structure, so you can aim above the red dotted line. 2. If the rebound fails in the weekly demand zone, it becomes a running flat pattern of bearish waves, so a second large monthly bearish wave follows. So, if you want to buy, look for buy opportunities in the weekly demand zone.
OANDA:XPTUSD
by TimeWaveTrading
PLATINUM The 1D MA50 is the key. Potential long-term bull.Platinum (XPTUSD) has been trading within a (very) long-term Triangle pattern since the September 24 2020 Low. That was the low that initiated a massive rally to the February 16 2021 High that started the long-term Lower Highs trend-line, which lastly rejected the price November 11 2022. The 1D MA50 (blue trend-line) is the key here. As long as it holds, there are good chances that Platinum will push for another Lower Highs test and potentially a break-out, targeting the 0.618 Fibonacci level. If the 1D MA50 breaks, we will pursue the Symmetrical Support Zone as our short-term target and the September 24 2020 low (830.00) as our long-term. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XPTUSD
by TradingShot
1
XPT/USD - PLATINUM: Super-Cycle Bull Market Underway?Markets move in cycles, expansion are followed by contractions/consolidations and so forth. These cycles are fractal, meaning they repeat themselves across multiple timeframes. Commodities are well known to be cyclical and unlike stocks, do not necessarily go up in the long run. What we see in platinum is no different. Since peaking at $2115,84 in January 2008, the precious metal has endured a twelve (12) year bear market. Many commodity specialists believe the March 2020 low in commodities was a significant bottom for the next decade or so. The Elliott Wave Principle support this view. The 2008 crash, wave A, was a swift impulse followed by a sharp recovery into 2011 for wave B. Wave C was a more gradual decline which unfolded in a clear five (5) wave sequence and bottomed at $582,20 in March 2020 with the global covid-19 market sell-off. If this wave count is correct, the recovery to $1344,41 is either wave (I) or (A) which calls for further upside at least for wave (C). A break below $582,20 will invalidate the supercycle bull market view. A strong platinum price will be a major boost for JSE listed platinum miners $JSEIMP $JSENPH &JSERBP
PLong
by Loyiso_BlaqueSoros_Mpeta