Consolidation after breakout. Platinum is consolidating after a breakout of a descending triangle that spans two decades. Holding the .382 retracement swing low to high. Eyeing a breakout of descending channel.
RSI approaching bullish territory.
Volume is very strong and has been since the retest of triangle pattern.
Will be looking at buying all dips.
XPTUSD trade ideas
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Time Wave analysis of Platinum (XPTUSD)Hello.
Time Wave analysis of Platinum (XPTUSD) as of March 31st.
The platinum peak is the starting line of the yearly correction trend of the downward wave, and a monthly downward wave proceeded below it. Since I recently broke the last monthly correction trend line, the monthly upward wave has ended, and the W-X-Y correction pattern will be created here. Because it is a very large pattern, it can be seen as a temporary uptrend or downtrend. If a support line is formed near the current monthly demand zone, it is highly likely to rise again.
Conversely, if the monthly support starting line of the upswing wave does not build or breaks, the yearly downtrend will continue.
Look for buying opportunities near the monthly demand zone in April.
good luck.
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Potential Double bottom?!Interesting formation coming up here on the 4H. . . I rarely trade that time frame but just bumped into it. If it works out looking at R of 3.5 with small risk.
PLATINUM LONG TERM WEEKLY TIMEFRAME
Corrective move down
Currently at wave (B) while wave A was a 3 Wave daily move down. What I expect to be wave C could also be a 3 wave (Y) down.
Either way the weekly timeframe is a corrective move down.
DAILY TIMEFRAME
Trading with the weekly trend down.
5 Wave move down was completed and noted as wave 1
A corrective (3-3-3-3-3) noted as wave 2 is complete
expecting a wave 3 daily down or a 5 wave down.
4 HOUR
Ideal entry zone
Probable time holding of this trade is 1-5 months : Not guaranteed just a projection depending on the timeframes
PLATINUM - READY TO BOUNCEMonthly graph of platinum
- crossed over 14 yr trend rezistance
- higher high
- now fighting for higher low - if 885$ stand
- extreme buy volume around support - 950$-1023$
- long term bullish accumulation possible
- targets 1417$ (38%), 1690$ (65%), 1880$ (83%)
Time will show, but this is excellent setup imo.
Short PLATNIUM (XPTUSD)Overall Average Signal from all our indicators suggests a Short. Entry is at market open and exit is shortly before market close or whenever you are okay with profits.
#PLATINUM #XPT in a Perfect long-term Channel with 2 extremesPlatinum got rejected two weeks ago on the 'war candle' on the 1W time-frame and is on the 3rd straight red week since. The importance of that rejection, is that the candle closed within the metal's long-term (almost 4 year) Channel Up that started half-way through 2018. As you see XPTUSD tends to trade exclusively within this Channel Up structure, unless a 1W candles closes outside (either above or below) the pattern.
In almost 4 years we had two such 'extreme' cases, one was the March 2020 market crash due to the COVID pandemic, which was the bearish extreme that reached as low as (marginally breaking) the -1.0 Fibonacci extension level and the other the Q1 2021 bullish extreme that reached as high as (marginally breaking) the 2.0 Fibonacci extension level. Notice who both distances are symmetrical on the extremes and that in both cases the candles, despite breaking marginally below/ above, they managed to close back inside the Fibonacci extensions.
The only valuable coinPrecious metals... Apes are paying for 5000 years with this coin, dollars as they are to date, 50 years. Very unlikely this physical good will lose value over time
Sell swing tradeThis is a beautiful sell setup
Swing to the end, and always remember use protective stoploss as this is one of the factors that gives a trader statistical edge in the market.
Also a very nice risk to reward ratio
Short tradeThis can be viewed as a continuation flag pattern and also a double top (M) formation market
There are pure divergence from the RSI and also a fall out of the ascending channel
All this are confluence that the market will continue falling
PLATINUM Perfect long-term Channel with 2 extremes to consider.Platinum (XPTUSD) got rejected two weeks ago on the 'war candle' on the 1W time-frame and is on the 3rd straight red week since. The importance of that rejection, is that the candle closed within the metal's long-term (almost 4 year) Channel Up that started half-way through 2018. As you see XPTUSD tends to trade exclusively within this Channel Up structure, unless a 1W candles closes outside (either above or below) the pattern.
In almost 4 years we had two such 'extreme' cases, one was the March 2020 market crash due to the COVID pandemic, which was the bearish extreme that reached as low as (marginally breaking) the -1.0 Fibonacci extension level and the other the Q1 2021 bullish extreme that reached as high as (marginally breaking) the 2.0 Fibonacci extension level. Notice who both distances are symmetrical on the extremes and that in both cases the candles, despite breaking marginally below/ above, they managed to close back inside the Fibonacci extensions.
This pattern provides a low risk frame-work to long-term investors. Buy low and sells high within the Channel and if the pattern breaks and closes a 1W candle outside its top/bottom, trade to the direction of the break-out, either towards the -1.0 Fib or the 2.0 Fib.
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Platinum (OZ) needs to breakout of this descending triangleI need to see a upward break of this top descending trendline to become bullish. We appear to have bottomed with a clear W pattern but we have to break that upper line. If the US government continues to debase the dollar (only tool left) then I would expect commodities to rise.
Platinum ded cat to 1079 range then downGreen hydrogen fundamental
Will moon off the lows
800-600
Nice bulltrap tho
Commod bulls gonna ded
GRI 2022
NOT TARDING ADVICE
PLATINUM (W)Platinum has broken out of the downward channel ,if this upward momentum can be sustained the next resistance level is at 1292$
Ukraine - Russia war will have a huge impact on Platinum price.
Platinum new ATH??Hellooo im Back!
The chances are good that platinum will reach a new all-time high in the near future. Platinum to the Moon!
have a nice day to all of you!
PLATINUM (TOO EXPENSIVE) : 1:13 RISK TO REWARD!!! HELLOOOOOOOOO PIPPIN PEEPS!!! I hope you're doing well...THIS IS THE NEXT MEAL ON MY PLATE. I AM LOOKING TO SHORT PLATINUM FOR THE NEXT 6 to 12 months all the way to $900. Great risk to reward. Trade with care...PIPPIN PEEPS!
Platinum Broke 10 yr Bear TrendThis is a technical analyst's dream, its beautiful.
Quarterly:
Last quarter just closed a clear shooting star candle at a pullback at price support following a 10 year plus bear trend.
Monthly:
The price acton in the last few months has found some demand at these levels.
Weekly:
Drew a trend line to highlight the breakout of the pullback that followed the momentum up move on the quarterly.
Daily:
Trend breakout of the weekly pullback. I know markets are fractal in nature but wow, this probably won't happen again for a long time, what a find. I'm going to buy platinum futures.
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Platinum Swing Trading Analysis ! Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
Platinum $ spot: correction unfolding?Below 1075 supports a bearish trend direction. Negate the stance for a break above this level.
Downside price momentum supports the bearish bias.
RSI leaves enough room for further downside price potential.
Might encounter some support around its 200-day simple moving average.
A break below its 200-day might target 975.
Platinum: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Platinum.
The chart is self-explanatory. Platinum price made multiple attempts to get back above the 0.618 Fibonacci Retracement level but was rejected and now headed back down. Platinum price may be supported by the Multi-month support line. If it fails there then expect price to head to the 0.382 Fibonacci Retracement area. RSI just broke below a multi-month S/R line, which is not a good sign.
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Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
