False penetration After it did false penetration the price came back again inside the canal, that will give us a sign the there is more falling down, the first target will be 974
XPTUSD trade ideas
Platinum nascent bull market I’m a metals bug but haven’t been convinced of a full blown metals bull market since corona
Now I believe is time
Inflation is now dialled in, but they can’t keep raising ad infinitum else the web of debt financial system will collapse
It may be that endogenous financial ruin is part of the reset- but I don’t believe the comptrollers would risk their own wealth to do this
It will be more subtle
Platinum has the additional fundamental of green hydrogen
I think metals are preparing for a face melting bull run
Ofc this would require general sentiment to be mehish at best, which of course it is
The major downtrend is shown here in orange/brown
It’s had a few goes at breaking this
The corona low was a divergent low
I’ll be surprised if platinum doesn’t have a monster breakout this year
NFA
PLATINUM short term long setupSo, we are at the bottom of the descending channel + a very strong support level. We might see one more bounce or 4H hammer candle before going up and to be honest that's the optimal play we look for. The price can actually smash this zone and if it does so, I will shift my bias and will look for pullbacks for short.
Platinum attempting to end its bear market Platinum is attempting to break our of its longterm bear market
I don’t believe the corona low will be revisited
I also think the reversal at the golden pocket was significant
I’d expect it to bottom on this local correction close to 900
BTD
NOT TARDING ADVICE
XPTUSD Up.Textbook trade.
First leg down full force sets bar. Second leg cannot go past it and reverses.
Platinum price has an exciting chart1. Platinum price is In a broader upward trend.
2. It is approaching the middle line of the regression trend.
3. Moved above the 61.8% Fibonacci retracement level.
4. Supported by trend indicators.
Correction Coming...5 waves up and in the process of correcting this whole move - expecting lower prices to come.
Platinum long scenario Oke guys, I'm going to watch this for potential long if price give us second touch of the ATL, it showed good rejection at first touch and now I'm looking for a pullback to POI and if it comes to the marked zone, I will wait for 4H rejection candles and after that I'll consider buys.
Confluences are:
1. Daily 50EMA touch
2. Nice break and retest of S/R zone
3. Bullish trend on 4H, D, W
4. 61.8% fibs
5. initially it showed rejection at the first touch of daily 50EMA
Technically its looking good, but remember that we jump in longs only if we see a good 4H rejection candles at marked zone
XPTUSDPotential movement upward. has broken the trend line and did a retest which can be used as a confirmation.
Going short on PlatinumThe metal shows strong set of lower highs complaint with Fibonacci retracement levels. Current bounce back from fib resistance followed by bearish candlesticks are a strong indication for going short in this commodity
Platinum $ spot: corrective wave?A bearish trend is applicable.
Ideal short entry around 1070.
Increase exposure around 1040.
Stop-loss 1090.
Target 1020.
The expectation is that the commodity is busy with wave a which is a corrective wave.
Technical rating: medium.
Time exit around 1 February 2023.
Platinum - Possible short soonPlatinum is getting closer to the upper bound of the parallel channel which the chart has been respecting since the beginning of 2021
Platinum could rise to 1200 zoneSince the late September low and strong support from 850, Platinum has had a nice rise of around 30%.
On the last trading day of 2022, the price also broke above 1050 resistance and, after confirming this break as a genuine one last week, Friday's candle is a bullish engulfing.
All these are suggesting up continuation and the 1200 zone could be next for Platinum.
Buy dips in the 1070-1080 zone could be a good strategy that also offers 1:2.5 R: R
Platinum is the one to buy and hold for yearsI've been bullish platinum for a long time now, but breakouts from such long-term ranges take time. We've seen similar shapes in crude oil and in copper, both of which have broken out. I started discussing the upcoming crude oil breakout on Twitter in 2019 already, and I've been doing the same for platinum. In time, we will surpass the all-time highs, which isn't strange considering that platinum can be used as an industrial metal to support the electrification trend.
Don't expect this to breakout tomorrow. It could take until 2024, but I'm very confident that it will be a matter of time. In the short term, I am looking for a drop by possibly as much as 3-5%, which is when I will start adding to my existing position. A critical level is $1,040 and it seems likely that we will see a test of that level before we head back to the current levels. On a side note: platinum looks like it will be outperforming gold in the coming years. The gold/platinum chart is an interesting one to look at.
PS: Please disregard the RSI indicator here, it wasn't supposed to be shown.
Platinum breakout caution aheadinfluencing factors
1. Breakout
2. Above 200/50
3. Hitting daily R1
4. Not overbought on daily yet
5. Strong uptrend
Bearish divergence warnings
XPTUSD SHORT | ASSIGNMENT | WEEK 12XPTUSD is expected to go short because of more bearish indications than bullish ones. Price expected to bounce back from upper trendline.
XPT with a long setup and a short setup - trying to break resistXPT enter on the next daily candle after
the breakout - must be a retest candle
I would set an alert and enter a SHORT once the target is hit - very high probability price action
will come down due to very strong resistance at 1169.15
This would be a great SHORTING opportunity with first target around 1046
second target around 969
price movement prediction
Price Prediction
not financial advice
this is for entertainment purposes only
always DYOR
Is platinum in a big bull run!?Thing was I haven’t pay attention the full charts.. even V shaped bottomed formed at the 800 area.
What I see this chart carefully platinum is in a bull run the buyers pressure went harder and want it to breakout and go higher ; look how remarkable the volume is incredible isn’t it?
I agreed to aldemap ( shout out to you ). Platinum is indeed in a bullrun.
Once that trend line break then breakout bullish official. Platinum season is coming strong for the metals. Highest high yearly was 2300.. the new high target long term is 5000 but can hit 6000 possible.
Target for 2023-2024 is first 3500 then last longterm target is 5500
2008 Platinum Smackdown Unnaturalhas to be one of the most unnatural chart movements out there. quite strange
On The Verge of Platinum BullRunBig bull run could be start for Platinum if blue trendline is broken.
Target is 5500 according to fib levels based on log scale.
Shading is just an example way.
It is suitable for long-term investment.
Drop or crash for Platinum Should expect a shortage respected the resistance .. drop down to 800 also buy the dip from that point.
If reversals happens but if the bears stay remain strong then should break and profit take from 700-600 area.
Because the inflation still over highs and warning for recession in 2023.
If crash happens then big drop crash down to 400 or 350 area. Don’t forget to buy the dip no matter how many times hit the support.. trade safe y’all. We are still in a bear market and the bottom and a little off but we should be coming back down and accumulate
XPTUSD Target Price 1044.390Pull Back to two Pivot Point Levels. Pull Back to 50% Retracement Level. Enter a buy market execution order.
xptusd .., 1:4 (risk:reward)Platinum/U.S Dollar (xptusd)
analysis + trade breakdown :
starting my analysis on the monthly chart (yearly overview) price has been trading in downward range, trading firmly between 2 parallel trendlines which are acting as dynamic support & resistance.
monthly supply level now acting as demand @ 831.300 is in control having pushed price up by ≈10.20% to current price.
inside the bearish channel, price broke out of small structure bearish trendline... forming a full OHLC candlestick above the trendline also indicating shift in current market momentum from bearish to bullish.
i have long position of 1:4 risk, reward from liquidity pool ranging from 911.500 to 905.200 with target targets at supply level of proximal price @ 1072.850 where there is also a liquidity pool ranging from @ 1060.150 - 1072.850.
objects used -
black horizontal trendline - Price Of Interest
blue rectangle - liquidity pool
peach horizontal line - supply/demand proximal price.
supply and demand
put together by : Pako Phutietsile
presented by : @currencynerd
courtesy of : @TradingView
The Nobel Prize in economics belongs to Satoshi Nakamoto, not Ben Bernanke.
