Platinum LongLooking to go long on Platinum/XPTUSD.
The metal market is now declining on some profit taking as all have done extremely well in the last month in percentage gain.
With fundamentals aligning cross the metal markets, pre election period, inflation dropping etc. Metals are still bullish, until the narrative has changed officially. This would most likely change if gold breaks below 2700.
While I would normally buy platinum on the 38% fib with the key level present, due to most of the precious metals declining I am avoiding this zone and going for the stronger one.
Confluences for the trade:
- Intra Key level
- Trendline Break Retest
- 50% Fibo
- Palladium Alignment at 50% fibo and Intra Key Level
Entry- 994.72
Stop Loss- 65 pips or $6.50
Take Profit- 1014.86
RR of 3.1
Trade safe and risk managed as always no matter what ya'll are trading, catch you later traders ▲
