Platinum analysisplatinum broke out the support at 1011, and activated a sequence with target toward 930
we could see a correction before going short
PLATINUM trade ideas
PLATINUM Massive profit last time. What's the next trade?Straight and plain success of our previous Platinum (XPTUSD) signal (April 24, see chart below), where we caught the exact Bullish Megaphone bottom and hit directly our 1060 Target:
The price could now enter a consolidation phase, the last accumulation, similar to November 15 - December 15 2022, when after it touched the 1D MA50 (blue trend-line), it rallied to the bottom of the Resistance Zone.
As a result, we are turning into buyers again, targeting 1100 (just below the Resistance Zone).
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Platinum Approaching Key SupportVersus the US dollar, Platinum is inching closer to a notable area of support after refreshing year-to-date highs of $1,095 last week.
Having seen price action pencil in a clear uptrend since February this year, a test of support between $987 and $1,002 could have dip-buyers make a show. The support area consists of two horizontal support levels around $990, one of which represents a failed Quasimodo resistance (turned possible support), a descending support line, extended from the high of $1,013, a 38.2% Fibonacci retracement ratio and a 50.0% retracement ratio at $997 as well as a 100% projection ratio coming in from $987.
PLAT/GOLD ratio: why my stockpick number 4 will start to fly !!Platinum is usually 1 to 2 times more expensiv than Gold historically (between 1.17 and 2.37 times from 1998 until 2008).
After the Great Financial Crisis things went out of wack ! The ratio fell inside a bullish descending wedge until it touched its low point around 0.39 !
At the peak of the Corona Crisis you could buy 2.5 ounces of Platinum with 1 ounce of Gold !
This undervaluation is of factor 3 compared with its average.
This means Platinum could very well outperform Gold by 3 times in the future.
Intresting is that price formed a double bottom with its recent March low and that a bullish divergeance formed between the March 2020 and March 2024 low.
Whereas the March 2020 low was a FALSE breakout of the wedge. The March 2024 is a REAL backtest of the apex of the bullish wedge.
The future price movement of the ratio, and especially the price movement of the PLG (Platinum Group Metals - stock pick number 4/10) should be dramatic !!
Platinum AnalysisDear traders, Platinum broke out the uptrend, and rejected from 50%+61.8% fibbo level making be bearish movement. We have two scenarios break out the previous low and go shorts, or correction for full wave golden, and sell for further targets. (general direction Bearish)
Extension of bull market trend in metalsDear analysts and traders,
I trust this message finds you in good health and high spirits as you prepare to approach the upcoming week with renewed vigor. I extend my best wishes for continued success in all your business pursuits. It is essential to emphasize that sustained success in business hinges significantly on the consistent establishment and adherence to your principles.
As an advocate of the Elliott Wave principle, I regard this methodology as a valuable instrument for market analysis. Over the past three years, I have honed my approach by amalgamating this principle with a meticulous evaluation of diverse market scenarios. I strive to mitigate market uncertainties by upholding a broad spectrum of market perspectives, enabling me to discern market structures with utmost precision.
I am pleased to share my analysis with you, with the disclaimer that I do not offer buy or sell recommendations. My perspective on analytical ideas remains entirely impartial, and if my analysis aligns with your standards, it can serve as a compass for informed decision-making.
I have enclosed my prior analysis of the same market for your perusal and comparison. All aspects of my analysis are clearly delineated for clarity. Nevertheless, familiarity with the Elliott Wave principle theory facilitates comprehension of the analytical concept. I apologize for the repetitive nature of the text, as my week is occupied with formulating analytical and educational ideas, as well as engaging in trading activities and managing my social networks. Due to time constraints, I am unable to provide textual explanations for every idea, hence the inclusion of a separate text alongside the labeling. Should the text be unclear, I am available to elucidate the key points.
My rigorous study of the Elliott Wave Principle spanned nearly three years, during which my grasp and utilization of this invaluable tool evolved. My progress thus far stands as a tribute to the legacy of Ralph Nelson Elliott, whose brilliance underpins my accomplishments. May he rest in peace.
I am grateful for your unwavering support and benevolence, and I eagerly anticipate your feedback and constructive criticism.
May my analysis serve as a valuable asset in your business endeavors, and I remain yours sincerely,
Mr. Nobody
Previous analytical ideas
Platinum's Seasonal Bearish Trend: Insights and StrategiesPlatinum is entering a seasonal period typically characterized by bearish sentiment, as observed consistently over the past 15 years during this time of year. This historical pattern suggests a tendency for the metal's price to decline during this period.
From a technical analysis standpoint, the price is currently retesting the supply area, which coincides with significant resistance levels. This area also aligns with the 78% and 88.6% Fibonacci retracement levels, adding further weight to the resistance. Additionally, there is a notable RSI divergence, indicating a potential reversal or continuation of the bearish trend.
Given these factors, we are considering a bearish setup for Platinum, leveraging the historical seasonality strategy. This approach aims to capitalize on the anticipated downward movement based on both technical indicators and long-term seasonal trends. By combining these insights, we aim to make informed trading decisions that align with the historical performance and current market signals.
XPTUSD ShortPlatinum made a HH and then it broke its two lower highs and made a new LL and also printed a new LH and it is going to print lower low. And there is divergence when it was making HH. So, here short is the best option and there was also the formation of bearish flag.
PLATINUM is your last opporunity!When compared to #Gold, #Silver, and #Copper, Platinum is now rising and appears to be catching up to the other metals. You may have the opportunity to make up for it if you missed the others.
Platinum: Bullish Cypher at Support with Bullish DivergencePlatinum is sitting at a Support Zone which aligns with the PCZ of a Bullish Cypher with RSI and MACD Bullish Divergence all on the Daily Timeframe and looks to be setting up to begin a retrace towards the resistances marked above.
PLATINUM - Close To Breakout 🧐This chart could easily be overlooked as noise with not much coherent but with simple use of the Supply Line we can see that many breakaway shakeouts (arrows) have already happened.
And now much further down the line with liquidity behind it depleted; there is much more chance that there will be a real breakout.
Also notice by using a lower trendline the price is close to an apex.
This also increases the odds of a full breakout.
This is great for " XYZ" " (client only) as both " X " and Platinum are looking bullish and it is still a deep value buy right now; could be a pump coming soon.
Its become a great moment for metals and related stocks 👍.
PLATINUM testing lower highs from 2000s for a +100% gainer?Precious Metals bulls: Platinum may be a sleeper. Gold and Silver strength makes the Platinum setup very juicy. Platinum looks set to break its chains and begin its move to retest the $2200 highs from years ago. Given geo-politics and inflation expectations, the bottom may be in.
Lord MEDZ's Trading Blog: The Future of PlatinumDear GreatSouls,
Welcome back to another insightful analysis with me, Lord MEDZ. Today, we're diving into the world of Platinum—a precious metal that's often overshadowed by gold and silver but holds significant potential in the trading and investment landscape. In this blog post, I'll share my views on what could be in store for Platinum over the next few years.
Current Market Overview
As of mid-2024, Platinum has experienced notable volatility, influenced by factors such as industrial demand, geopolitical tensions, and shifts in global economic policies. Unlike gold, which is primarily seen as a safe-haven asset, Platinum has a dual role as both an investment asset and an industrial metal. This unique position means its price movements are influenced by a combination of economic growth prospects and market sentiment towards precious metals.
Key Factors Influencing Platinum Prices
Industrial Demand: Platinum's primary use is in the automotive industry, specifically in catalytic converters for vehicles. With the global push towards greener technologies and electric vehicles (EVs), there's a common misconception that Platinum demand might wane. However, the reality is more nuanced. While EVs don't use catalytic converters, the demand for fuel cell vehicles (which use more Platinum) is expected to rise. Additionally, the hydrogen economy is emerging as a significant driver for Platinum demand due to its use in hydrogen fuel cells.
Supply Constraints: South Africa and Russia are the two largest producers of Platinum. Any geopolitical instability or mining disruptions in these regions can significantly impact supply, leading to price spikes. Additionally, the challenges faced by the mining sector, including labor strikes and regulatory changes, play a crucial role in influencing Platinum's availability and price.
Economic Factors: As a precious metal, Platinum is also seen as a hedge against inflation and economic uncertainty. Central bank policies, interest rates, and global economic health are all factors that can drive investment demand for Platinum.
Technological Advances: Innovations in industrial applications, such as advancements in medical technologies and renewable energy solutions, are creating new demand avenues for Platinum. As these technologies become more mainstream, the demand for Platinum is likely to increase.
Forecast for the Coming Years
Short-Term Outlook (1-2 years)
In the short term, I expect Platinum to experience moderate price growth, driven by steady industrial demand and potential supply disruptions. The ongoing transition to greener technologies and the push for sustainability will continue to support Platinum prices. However, market volatility remains a risk due to geopolitical factors and economic uncertainties.
Medium-Term Outlook (3-5 years)
Looking further ahead, the medium-term prospects for Platinum appear more promising. The global shift towards a hydrogen economy is expected to gain momentum, significantly boosting Platinum demand. Moreover, technological advancements in various industries will create additional demand pressures.
Platinum's price could see substantial appreciation as these factors converge. Investment in Platinum might become more attractive compared to gold and silver, particularly for those looking to diversify their portfolios with metals that have robust industrial applications.
Long-Term Outlook (5+ years)
In the long term, the potential for Platinum is vast. As the world increasingly embraces sustainable energy solutions, the demand for Platinum in fuel cells and other green technologies is set to soar. Additionally, ongoing supply constraints and the challenges of expanding mining operations will likely keep prices elevated.
Investors who are patient and strategic could see significant returns as Platinum becomes a cornerstone of the new energy paradigm.
Conclusion
Platinum is positioned uniquely at the crossroads of industrial demand and precious metal investment. Its future is closely tied to technological advancements and the global shift towards sustainability. For traders and investors, keeping a close eye on developments in these areas is crucial.
I appreciate your feedback on this analysis. Your insights and discussions help us all become better informed and more strategic in our trading endeavors. Until next time, keep safe and happy trading!
Warm regards,
Lord MEDZ
After the gold rush, it's time for the platinum fury!Platinum is following a ~1111 Days time cycle, roughly ~160 weeks, and it recently formed a bottom near ~$840 in October 2023
After correcting for ~13 years from 2007 to 2020, platinum finally intiated a new impulse wave in 2020, however, this impulse wave was short-lived and soon came to an end.
Now, platinum is completed its 2nd wave and is ready for its 3rd wave which often turns out to be the fastest and largest of the 5 elliot waves!
Here's the trade
Buy @ CMP (~$1070)
Stoploss @ 900
Target @ $1500
XPTUSD - BEARISHXPTUSD is exhausting right now there are many reason to keep an eye on this instrument as sentiments a bearish pattern and a strong resistance is lying at the current top. Moreover if XPTUSD test the resistance and then a new lower low comes to existence the entry would be more relying. So I might a little at least 2 things to sync the a lower low and the résistance to be tested. Thanks
PLATINUM XPTUSD Bearish Robbery Plan to make money 🤑💰Hola Platinum Robbers,
This is our master plan to Heist Bearish side of PLATINUM XPTUSD market. kindly please follow the plan i have mentioned in the chart focus on Short entry, New entry traders pls enter only in pullback of smaller timeframe then enter to rob the money. Our target is Green Zone that is High risk Dangerous area Consolidation will happen. Be safe and be careful and Be rich.
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XPTUSD has cross-over and shows short opportunity XPTUSD has broken its bottom trendline with a 3 EMA crossing over the 10 EMA to the downside. At the same time we're getting the EMAs crossing over the Stochastic is heading down and crossing over the 50% mark giving three confluences to look for shorts
Ill be targeting a 1% move down underneath a support i have drawn out on the 4H chart
More downside for XPTUSD (Platinum)XTPUSD has been rallying ever since it broke out of its two week sell off a couple days ago but there are now signs showing that the upward momentum could be coming to a end.
Technical : The 3 EMA is crossing over the 10 EMA to the downside while at the same time the Stochastic is crossing the 50% mark to the downside as well. These Bearish confluences are happening while we are nearing the bottom Trendline, making a breakdown higher probability. Target a 1-1.5% move down from your entry/break
XPTUSD SetupThis is my Setup to go LONG on XPTUSD . Market is bullish and given a CHoCH on 1 hour time-frame so we expect market to mitigate our extreme POI in this case and then continue move upward. Traders may look for LTF confirmation on 5 mins for entry.
4H XPTUSD (Platinum) Long waiting on retestXPTUSD has broken the Bullish (TOP) Trendline after multiple (5) touches, we dont have a clear safety line to give us a stop loss so i wont enter of the initial break. Im going to instead wait for a retest of the Bullish Trendline we'd just broken, Waiting allows me get a better idea of the breakout to see if its just trying to fake us out. If this bullish situation plays out ill be targeting Resistance above at 943.95.
XPTUSD Strong Higher Low buy opportunity. 1D Golden Cross formedPlatinum (XPTUSD) gave us an excellent bottom buy signal last time (March 13, see chart below), as the metal entered a Channel Up pattern following the bottom just below 880.00:
Currently we are on the 2nd Bearish Leg of the Bullish Megaphone pattern that emerged and will complete a Golden Cross on the 1D time-frame today. As per the December 02 2023 Golden Cross, which was formed after a similar rebound, but on a more aggressive Channel Up instead of a Megaphone, we should be expecting another Higher High near the 1.382 Fibonacci extension. Our Target is 1060.
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Platinum $: re-test of the 200-day?A price action below 910 supports a bearish trend direction.
A price action below 900 supports further downside potential.
The stop-loss price is set at 955 (just above its 61.8% Fibonacci retracement level).
The profit target is set at 855.
Crossing below its 200-day, might initiate a re-rest of its 200-day and then a leg down.
XPTUSDT - Down TrendXPTUSDT Chart is printing Bearish Engulfing Candle with Bearish Divergence and price rejected from 2nd resistance.
Therefore I'm doing short from here at market price.
