Platinum (the moment of truth)A large inverse head and shoulders has been in the making with the neckline coexisting with the long term resistance trendline, I think this should mark the breakout to 1130$
PLATINUM trade ideas
XPT Surges as EMAs Align with Bullish Chart PatternH ello!
XPT broke out from a falling wedge (See green trendlines!) formation with strong bull power, as the MACD shows. It wasn't against expectations since falling wedge chart patterns usually break upward. It's often a bullish formation. Thus, MACD and chart patterns align with a bullish outlook. Furthermore, the price is above EMAs (20/50/100/200). EMAs crossed upward on the 24th of September. Seemingly, nothing stands in the path of bulls until the green target circles. However, stay vigilant and don't go all in.
Regards,
Ely
PLATINUM Strong rebound on the 1D MA200.We got a perfect bottom buy entry on Platinum (XPTUSD) last time we analyzed it (August 30, see chart below), with the price already halfway to our 1090 Target:
As you can see, the price action is almost a perfect mirror image of September - December 2023. Now that the price has confirmed the new Bullish Leg with a strong rebound on the 1D MA50 - 1D MA200 zone (blue and orange trend-lines respectively), we can expect it to complete the pattern and complete a +20.86% rise, right where our 1090 Target is.
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PLATINUM - Short Term Whipsaw TradeThese upper wicked candles (red arrows) have my attention and notice that they make a slightly higher high whereas the RSI makes a slightly lower high.
I have the RSI source set to "high" so that the upper wicks are recorded.
And also a slightly higher high is often Wyckoff liquidity tapping.
Then check the fib retracement and notice that this is all happening at the 0.786 overshoot ratio.
This is an ideal ratio because any higher and then I know the probability of a slump dwindles.
So this is quite a nice setup here I think.
In higher time frame I am bullish Platinum.
But these coiling whipsaws have been going on a very long time so I would be somewhat unlucky if this is leading to a breakout here.
And the wicked candles are signalling this is a point of resistance.
...
So a very short term trade here.
Notice that on the 4 hour chart, every pivot low has been caught by the lower Bollinger Band.
That will be my target.
I will aim slightly higher than the lower band because it is rising @ $973.
Sometimes these trends do move above the 0.786 but anything above around 0.81 generally signals a full retracement will occur ( and so invalidate the trade)...
But even with the stop level as high as 0.84 ratio @$1006, this is still a 3:1 RR trade.
So this is what I'll go with.
A 3:1 trade
TP: $973.
SL: $1006 👍.
Not advice
Platinum breakout is near monthly close above 1000$ will confirm the breakout and price should explode to 1500$
Platinum In Neutral AreaHi there
In the platinum setup, the price could break above or below the trendlines. If it moves above the daily purple trendline, the outlook will be more bullish; conversely, if it falls below the blue trendline, the sentiment will be more bearish.
A break below the weekly trendline would indicate a shift to a bearish trend.
This is a nice set-and-forget type of setup/strategy tip. When you receive an alert, you can gauge how market participants may be feeling about the market. However, always apply risk assessment before entering a trade.
Happy Trading,
K.
Platinum Swing Long. Buy! Hello, my friends!
Platinum is trading along the rising support. I'm expecting the price to reverse and go Up. TP1 980; TP2 1020; TP3 1080; TP4 1150.
[Platinum] Something is brewingWeekly CAPITALCOM:PLATINUM chart: breakout attempt is in progress.
Last breakout in May was unsuccessful, the candle was peeking above the trendline, but dive again the following week. Would we see different result now ? possible as the EMAs are positive and MACD is positive as well.
Platinum could do a mean reversion hereI am looking forward to Platinum doing a mean reversion here on the 1hr timeframe. I expect it to take out the recent high a make a higher high and follow the trend.
Platinum: Little Consolidation (Wave 4); Golden RatioWe can see a very well defined cycle, and wave 1 to 3 already created.
This new cycle could be a consolidation, the price can drop to 14,6% or 23,6% level.
Or even in the middle between 38,2% and 23,6%, where other wicks has already touched, creating a support, where can also occur the last candle of Wave 4.
Open interest in NYMEX:PL1! is falling and the major trend rising, it can occur a reverse, and this reverse will be the Wave 4.
RSI left the Overbought level, followed by a failure swing, resulting in continued decline of the indicator.
After the peak $1,016.45, ADX is losing strength while DMI+ has a high probability of changing position with DMI-.
[PLATINUM] Breakout, checked....retest, checked...TVC:PLATINUM seems ready to go higher as it successfully retesting the downtrend line.
As with other commodities, the theme here is China's effort to boost its sluggish economy with its money printer.
XPTAUS Buy PositionAnalysis:
- Broke previous high at 980.00 (indicating uptrend)
- Broke the (correction) trend line after 4 touches.
Trade Setup:
- Entry Point: 988.00 - 990.00 (trendline breakout)
- Stop Loss: 962.50 and trail the line.
- Take Profit: Exit upon candle closing under the trendline / reachs 1060.00 (1.618 Fibo)
Disclaimer: This journal is for personal purposes only. Trading involves risk; always do your research and consider your financial situation before making any trades.
XPT Sell at trendline rejectionAnalysis:
- Trendline: Down trend
- Strong resistance at the trendline; Engulfing after touching the trend for 3/4th time.
Trade Setup:
- Entry Point: 983.700 (waiting for trendline breakout)
- Stop Loss: 990.000 - 991.000
- Take Profit: Exit upon break below the trendline / 900.000 ( previous low )
Disclaimer: This journal is for personal educational purposes only. Trading involves risk; always do your own research and consider your financial situation before making any trades.
Learning Tory's Trade Trading Plan: XPTUSD Trendline BreakoutCurrent Status:
- Trendline Touches: 4 touches confirmed
- Analysis: Strong resistance at the trendline; monitoring for trendline breakout.
Trade Setup:
- Entry Point: 975.250 (waiting for trendline breakout)
- Stop Loss: 993.800
- Take Profit: Exit upon break below the trendline
Disclaimer: This journal is for personal educational purposes only. Trading involves risk; always do your own research and consider your financial situation before making any trades.
Platinum looks very bullishHi Traders.
check my comments in the chart thats my analysis.
Feel free to comment
Platinum Technical Analysis.
Weekly - Bullish - Price is above the trend-line (Grey)
Daily - Bullish - Price is above the trend-line (Blue)
4 hour - Bullish - Price is above the trend-line (Green)
30 mins - Bullish - Price is above the trend-line (Yellow)
I have opened one trade to the upside risking 2%.
This is not a financial advice just the way I trade and on how I’m see the markets.
Is Platinum about to Rally?Platinum has been gaining attention as gold reaches new all-time highs. With the price gap between these two precious metals widening, could Platinum be the next big trade?
Is the latest Commitment of Traders report supporting a potential bullish trend, along with key events on the economic calendar like the US GDP growth and PCE index?
Is now the time to consider Platinum in your commodity trading strategy?
Silver short term downtrendMarket structure show that Silver could be selling off further in the short term.
PLATINUM Technical Analysis.Weekly - Bullish - Price is above the trend-line (Grey)
Daily - Bullish - Price is above the trend-line (Blue)
4 hour - Bearish - Price is below the trend-line (Red)
30 mins - Bullish - Price is above the trend-line (Yellow)
I have opened one trade to the upside risking 2%.
This is not a financial advice just the way I trade and on how I’m see the markets.
Platinum 1D 23.09.20241. Platinum is for months in symetrical triangle pattern (red)
There was one atempt of getting out of the pattern but the price got back to the old trend (dashed red)
2. There are 2 support zones in blue. As the lower one is below the red line i am expecting that price will respect the upper blue support zone
3.The price currently broke the upper trendline and is getting closer to the blue support zone
4. There is also a lower thick trendline from which the price broke couple days ago - also expecting the price to get back to this trendline and use it a a support
5. the blue channel is being slowly created
Entry: The yellow rectangle is my enty zone
TP: TP i am setting at the intersection of ted trendline and blue channel - also the price has a round number 1050
SL: SL I am setting under the red trendline and resistance zone (the resistance zone coould be even bigger but I want to minimalise the loss, so at the moment when the red trendline will not be respected, after giving some small margin below, I am willling to close the postition
ANTICIPATING TRADEAnalyzed XPTUSD by applying following trading strategy steps:-
1. Bearish trend
2. Bearish divergence
3. Double top bearish reversal pattern found in the end of bullish trend and before start of bearish trend
4. Anticipates a bearish trend, and initiated two trades with 1 % risk thru sell stop
PLATINUM — Major Wave Up Can Start SoonWhile the dollar is rapidly losing its value and all other markets are going crazy, platinum, a wonderful precious metal with unique properties, one of the rarest elements on Earth, is still trading at 2004-2005 price levels.
Is it a good buying opportunity right now? Let's see.
The move from 1998 to 2008 is clearly a major impulse wave. Judging from gold's perspective it can actually be a wave III, but I'll label it as I for now as it doesn't matter at the moment. Here's a price history chart starting at the end of the 19th century if you want to see the big picture:
sdbullion.com .
The period from 2008 to 2020 is an ABC correction and the COVID crash was the end of the macro corrective wave touching price levels between 0.618 and 0.786 retracements from 2008 highs. Monthly candle close was just above 0.618 in fact.
EDIT: forgot to include fibs, see here:
The next move in 2021 looks like a typical wave 1 and can be the first subwave of the next higher degree wave.
A wave 2 correction then followed and price action confirmed support at the $900 zone. Which means the next wave up can be just around the corner!
Platinum is also hugely underpriced when compared to gold and the GOLD/PLATINUM ratio is showing bearish signs as I discussed in this idea:
And with prices still so low considering inflation it is likely that downside potential for platinum is quite limited.
This all makes platinum a low-risk investment and in my opinion it's a good idea to dedicate some portion of capital to this great metal.
One way to get exposure is to buy ETFs like PPLT and PLTM. These are not very liquid instruments and not very suitable for short-term trading but will work for longer term investments.
If you want some additional confirmation, you can wait for breakout of this trend line:
Lst wave down on Platinum?Hey it made a perfectly formed head an shoulder pattern and its going to its target. I still think we will go to the 850 level before we will enter the macro wave 3 heading to the 3000 level. Relax and see what will happen
