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Platinum (XPTUSD)PP

Platinum (XPTUSD)

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PLATINUM trade ideas

The fate of platinum in 2021What's it going to be like ? It is now hoovering at the resistance level area for the last 3 weeks. It might consolidate a while more before we see a breakout of the bearish trend line. I am bullish on it just like my stand in Silver and other commodities I trade. Unless you know what you are doing, you NEED NOT have all commodities in your portfolio. It is difficult to say how much allocation you should have as different people have different goals, strategies and knowledge. And always, always trade with a STOP LOSS. Nobody can predict the market (those who say they can are seldom traders themselves but earn their money through their "predictions")so just because it has been good the last few months, it may or may not be enjoying such trend in the future. That is why you need STOP LOSS to protect your money.
OLong
by dchua1969
one possible price action scenario for Platinum possible price action scenario short term: rising bearish wedge if played out would bring down the price back to the larger Bull flag channel lower line. Then price to resume upward swing 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.
O
by hanzhao311
Platinum future 65 min possible negative StochastiRSIdivergence SWOT S: 1. seasonality wise Dec and Jan strong. 2. The week after Christmas typically is strong for stocks and even first week of the new year. 3. possible inventory shortage for the metal 4. bullish setup for intermediate time span (Daily, 3 day, etc.) 5. very undervalued based on historical price and especially given the devalued dollar and near 0 (or negative) interest rate. 6. just had a huge 10% correction on last Sunday night and not likely to have another one soon. W: ... O: ... T: near term negative chart divergence 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.
O
by hanzhao311
Bear flag within a Bull Flagin the 8 hour and bigger time frame a Bull flag is forming.. However, with the lower time frame such as 4 hour there is a possible bear flag. So watch very closely the price action here, very interesting. Keep in mind that Seasonality wise the Platinum is very bullish in December and January for the past 5 years. 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.
O
by hanzhao311