PLATINUM Vs USS ShortOn this pair previous set up closed at break even now new high is formed watch it to drop still, formed and impulse now correcting, watch it.
PLATINUM trade ideas
Forecasting A Top...I believe this is in it's last impulsive move of this current uptrend (Wave V or 5...) and is approaching a top, I have marked a zone where I think we top in and a channel also. Once we complete the wave 5 it should pull back to $800~ levels.
Oh, come on, you can do better than that !“Never give up, for that is just the place and time that the tide will turn.” ―Harriet Beecher Stowe
Yes, I can hear the traders complaining why is Silver and Gold going higher and higher while this precious metal, Platinum is lagging.
Maybe not, next week , we might see a change in action. The last bullish candle is promising and very likely to continue its bullish surge. The resistance at 997.33 need to be broken so that the bulls can charge forward higher.
Those who had long this precious metal hang on there, I am sure like you ( vested interest), our efforts will be rewarded sooner than later.
Platinum: 12 Year TriangleDoes the descending triangle complete with the traditional breakdown?
Or does it bounce higher?
Short Platinum @ 1,017; TP @ 960.15, SL your choiceShort Platinum @ 1,017; TP @ 960.15, SL your choice
Platinum: Time to Buy?I think no.
Price is currently consolidating around the $1017 level after breaking the $998 strong resistance.
$1017 is now a stronger resistance. Platinum broke it in June 2016 and tried to recover it at least four times with no success.
My view is a retracement to the EMA 50 level.
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Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor.
2 Scenario ??After breaking 950 the Platinum go up after doing a Pull back so the best case is to wait for a clear break of 985 to go Long
but for now as long as we not break 985 we will come back probably to 950
My strategy to be safe is to wait for a break of 985 to buy or a break below 950 to go short .
the price might also trade in range between 950 and 980 for a while
Activate!!!I enter on H4 with 2 targets.
Entry: 2 positions @ 977.50
SL: 987
TP 1: 952
TP 2: 940
Manage risk appropriately...
Platinum In Late Stage of Cup and Handle target $1195Platinum like silver is forming a cup and handle on the short to mid term chart. I expect a breakout to $1195 once the handle is complete. Silver is acting very similar to Platinum. Gold had already completed the short to mid term cup nd handle and now is in the process of a long term cup and handle to possibly complete its cup at all $1850 sometime in the next year or two. I believe platinum and silver will do the same but are waiting for Gold to confirm its longer term Cup and handle before they make there longer term cup and handle formations. All metals show a clear rounding bottoming formation overt the last 6 - 7 years. Gold is leading the way.
Platinum (XPTUSD): Quick Update. Getting closer to our Target.Platinum is approaching our medium term Target Zone of 1,020 - 1,040 as we posted on this idea in late October:
As the moment, the current 1D Channel Up (RSI = 66.576, MACD = 14.780, ADX = 30.519, Highs/Lows = 23.68000) has just broken above the Higher High trend line again in a move that strongly resembles the late July/ early August break out. That Channel Up was supported by the 1D MA50 (blue trend line) and on a similar RSI action as today's broke to the upside aggressively to form a market top near 1,000.
We assume that as long as the 1D MA50 supports the uptrend, XPTUSD will aggressively break into our Target Zone.
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XPTUSD 1D ASCENDING TRIANGLE BREAKOUT LONG TRADEPlatinum Ascending Triangle Breakout Long Trade
Ascending Triangles are repeatable trading chart patterns.
Ascending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
Mind the GapAs it is , Palladium has now cross over the 2000 (2095 at time of writing) level as many analysts have correctly predicted. Looking at the chart, this 2000 price level was also where Platinum reached its peak in Feb 2008 (some 12 years ago).
Sadly, it has not recovered even half of the peak since that day. It has been a downtrend for the last decade or so. With Gold and Silver enjoying the limelight these days with new highs, the price of Platinum seems to be crawling at snail pace.
Well, purely comparing Palladium and Platinum like Heaven and earth, if you have time on your side and some capital, where would you park your funds into ?
Could Palladium go to 3000 ? Your guess is as good as mine. However, at around 11,000 price level, Platinum will break out from its long serving bearish trend.
Platinum's low or support is around 800 level, so buying it now has limited downside but huge potential upside. You can consider parking 1-3% of your investible capital and basically "buy and hold" for the next few years.
If you are more conservative, you can wait for the bearish trend to be broken first then decide if you want to get in. There is no one fixed strategy, employ the one that makes you comfortable.
Platinum long(short term)Hi guys, this pair is currently making a nice ending diagonal, looking to buy the 5th leg, wait for entry levels on lower time frame.
Thanks A million Times
&
Trade With Care
XPTUSD: Rejection of 2019 HIGHThe start of the year sees a rejection of 2019 HIGH with a D1 Bearish Engulf. Are we seeing a reversal of trend? Doubt so. Only a violation of structure low 20th Dec do I see Bears in control IMO. But there's still some decent pips to be earn going SHORT. I would like to see some reaction to the D1 proximal line to go SHORT to the indicated target level. Do note that this is a counter trend trade. So be prudent in position sizing
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Platinum bullish breakout 2020Based on the price action, this could be one of the best years for platinum since 2007. A break of the confirmed downtrend line and close above it and 200SMA. For extra confirmation, waiting for the close above the $1000 level.
This could be a great long term trade for 2020, targeting $1700 at 61.8% fib level.
Commodities are very bullish at the moment due to brewing conflict between USA and Iran and there seems to be a real threat of war in the air. Investors will seek commodities as safe havens in case of full military action. Not the best start of the new decade...
Good Luck!
