PLATINUM trade ideas
Seasonal $XPTUSD Platinum LongIt is time to start considering a major platinum trade in either spot or $PPLT equivalent. The measured move target of $1300 is shown and I believe we can get there by March 1 2021.
Platinum looking strong bullHello!
Platinum looking really bullish. We got here a beatiful higher low pattern and a vertical line which has worked as resistance.
This resistance has been tested 4 times. What I have seen usually 5th or 6th time does it.
Also RSI has already broke it's own the resistance line and used it even as a support. This gives me a strong bullish view.
Platinums demand is also getting bigger. Car makers are starting to use platinum instead of expensive palladium on exhaust systems.
If you are not holding for long term and are trading. Use stop loss.
Otherwise you will get your ass burned!
Take care
Jebu
possible long for platinumPrice action tested the 200MA and bounced upwards and crossing 100MA, I've placed a buy stop above market noise to possibly catch this long. I don't like the risk to reward because it's near a resistance zone.
Platinum's next step higherPlatinum has tested the upper end of this consolidation many times, sellers must be running out. next time I think we break out and go to 1200.
Ascending Triangle With Diamond Breakout.We could see an attempt to break above an ascending triangle from here which could result in an ABC movement towards $1500 as this looks like it could be somewhat of a Bull Flag.
PLATINUM on the 0.618 🦐PLATINUM after the last impulse found a resistance at the 1130 area.
The price from there retraced at the 1055 level over the 0.618 fibonacci retracememnt.
According to Plancton's strategy, if the conditions will be satisfied, we can set a nice long order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Platinum over Gold and Silver?Precious metals sold off some but in light of Ms. Yellen moving in to Treasury, a continuation of her currency expansion is likely. To disregard physical precious metals as perhaps the only safe store of wealth seems to be folly. While the gold/silver ratio has fallen from nearly 120:1 down to the mid 70s, Silver is no longer the best value. The Platinum Silver ratio had ranged from 126 down to 33. At it's current 43 level, it does seem like the place place to put new cash.
XPT USD SELL (PLATINUM - US DOLLAR)Hi there. Price is forming a reversal pattern to change its direction.
Watch strong price action at the current levels for sell.
Platinum 8 hour Pin bar As of now price is chewing on the tails of the Pin bar but the Pin is still in the play. Look for price reversal to the upside still.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
XPTUSD or Platinum 1D | Short Momentum- Possible bearish price movement towards the support 1097 within the next period.
Platinum retesting the breakoutPlatinum is in for a treat. Having retraced its breakout, it has clear skies ahead.
Next volume defined target is $1450 by October 2021!
90 min Platinum future chart shows possible CMF crossing down 0 Watch out here.
If the 0 line holds it would be bullish given the strong seasonality.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
