PLATINUM trade ideas
$XPTUSD - Bearish bat on Platinum chartHi guys! 👋🏻
🔔 Harmonic pattern to watch - Bearish Bat 🦇
🔔 Posted for educational purposes, not to be considered as an investment advice.
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platinum is about to fly The upward wave has begun. This wave could be wave 4 of the double-dip wave, which will be the target of $ 1,800, or it could be wave 3 of the main wave, which will reach the target of $ 3,500 in the long run.
Platinum: Something To start...Hi Guys,
it struck me the other day how similar these movements are. Then I discovered that Platinum has a very important industrial link with Oil Refining.
Platinum is used in the processes known as reforming and isomerisation, which create the higher octane components for gasoline. Platinum is key to the production of gasoline - without it, refineries would not be able to produce enough gasoline to meet current requirements.
Can this be the explanation for their similaritis? How can such behavior be studied in the long-short and medium term?
Please share your views and comments below.
Thank you for your support and for sharing your ideas.
Cozzamara
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumstances.
Platinum towards the topLet me present my idea, it looks like Platinum has touched the 61.8% Fibonacci retracement level at the price 953.066, and we hope to go to the first price direction in the 982.739 range at the 161.8% level, and the second price at the 999.925 range at the 261.8% level, but I personally prefer to set the profit point at the first price range. If the movement breaks below the price 953.066, it is likely to go short.
Platinum - bullish countLots of other possibilities here (as always with with EW) but I kind of like the look of this count. The area of doubt for me is whether or not the stage 2 correction has come deep enough at the 38.2 or if it is going to morph into something else. If it could break the 1000 level then maybe I could be more confident.....
Silver's Platinum EvidenceRenko chart reduces time noise, painting a clearer picture for pure price action analysis. Silver lead the way previously and doing so again. But the key takeaway is platinum's entry into the commodity bull era. Another piece of puzzle.
PLATINUM SELL TRADE SETUPSELL OPPORTUNITY
ENTRY 890-897
TP 1: 870.00
TP 2: 840.00
TP 3: 790.00
STOP LOSS: 920.00
Wait for the XPTUSD outbreak to the upside.When XPTUSD breaks out to the upside, it has plenty of upside potential. I am a buyer around USD 1008.00 and then again when it breaks its trading rang.
Trend Reversal Coming Soon?Platinum's monthly RSI has been diverging bullish compared to price since 2015. Will price move up to meet it?
PLATINUM SELLXPTUSD (Platinum)
SELL
ENTRY 938.00
TP 1: 906.00
TP 2: 887.00
TP 3: 860.00
STOP LOSS 960.00
Platinum to Breakout?As you can see from the chart:
Palladium had a big run already in 2019 and typically this results in a large pull back if you look at its historical price action. Investors are probably afraid to load up here.
Gold already broke out, potentially forming a bull flag for further move. But some analysts claim it is overbought and inflation may not be as high as expected which would cause a significant pullback.
Silver is more volatile than Gold and is in the same boat as Gold at the moment. Silver's breakout lagged gold as usual.
Platinum interests me. As you can see it has not reacted much to recent events (relative to its historical price action) like gold and silver have, and I believe investors will rotate into platinum since gold, silver, and palladium have already broke out.
What do you guys think?
PlatinumThis chart forms part of a larger client note published pre-market.
The metal has had a strong two-day candle structure, with the price looking to breach it's short term downward trend line extending back to the swing highs of 30 September. Higher lows have developed since 02-November while the price is regaining and attempting to trade above the 8-21-50 DAY EMA. In order for the trend to shift, we need to see the price solidly break the $900 level. It held the pivot and is looking to test test the underside of resistance level #1.
